NEW YORK--(BUSINESS WIRE)--Lynda J. Grant, an attorney with over 30 years of experience representing wronged shareholders and consumers and a New York Metro Superlawyer, announces that TheGrantLawFirm, PLLC is investigating potential breaches of fiduciary duty and other claims on behalf of shareholders of Xerox Corporation (NYSE: XRX) in relation to its recently announced merger with a joint venture of FujiFilm Holdings Corporation (“Fuji”), known as FujiXerox (the “Joint Venture”).
On about January 31, 2018, Xerox announced that it was entering into a transaction through which Xerox would merge into the Joint Venture (the “Transaction”). The Transaction is structured so that Fuji ultimately will obtain 50.1% of the Joint Venture and a majority of its board positions, while Xerox shareholders will become minority shareholders. Although Xerox shareholders are to receive a special dividend, activist shareholder, Carl Icahn, and Xerox’s third largest shareholder, Darwin Deason, have publicly stated that the deal is unfair to Xerox shareholders and dramatically undervalues the Company. Shigetaka Komori, Fuji’s chairman, is quoting as stating that the Transaction allows Fuji to purchase control of Xerox without paying a penny.
TheGrantLawFirm is presently investigating whether Xerox’s directors have breached their fiduciary duties by approving the Transaction and whether the terms of the Transaction are unfair. If you are a shareholder of Xerox and would like additional information regarding this matter, please contact Lynda J. Grant at 212-292-4441 or firstname.lastname@example.org.