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If you purchased shares of Xerox Corp (NYSE:XRX) and currently hold any of those NYSE:XRX shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
An investor, who currently holds shares of Xerox Corp (NYSE:XRX), filed a lawsuit in effort to halt the proposed takeover of Xerox Corp. by FUJIFILM Holdings Corporation.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:XRX stockholders by agreeing to sell Xerox Corp cheaply via an unfair process to FUJIFILM Holdings Corporation .
On January 31, 2018, FUJIFILM Holdings Corporation (“Fujifilm”) (TSE: 4901) and Xerox Corporation (NYSE: XRX) announced that they have entered into an agreement to combine Xerox and their longstanding Fuji Xerox joint venture. Under the terms of the agreement, Xerox shareholders will receive a $2.5 billion special cash dividend, or approximately $9.80 per share, funded from the combined Company's balance sheet, and own 49.9% of the combined company at closing. FUJIFILM will own 50.1% of the combined Company.
However, plaintiff claims that the proposed consideration NYSE:XRX shareholders will receive is grossly inadequate and undervalues Xerox Corp. Indeed, at least one analyst has set the high target price for NYSE:XRX shares at $45.00 per share. In addition, the plaintiff alleges that the process is also unfair Xerox Corp stockholders.