Further Developments in Icahn’s & Deason’s Battle Against Xerox

We previously released an M&A Watch note detailing the recent NY decision of In re Xerox Corporation Consolidated Shareholder Litigation and the subsequent settlement agreement entered into between activist investors Carl Icahn and Darwin Deason and the Xerox Corporation (“Xerox”). The agreement provided for the resignations of Xerox’s CEO, Jeff Jacobson, and six other members of Xerox’s board, with the newly opened vacancies to be filled by Icahn’s and Deason’s designees. The agreement was to become effective upon dismissal of the litigation.