Home Courts Fujifilm plans lawsuit against Xerox over voided acquisition

Fujifilm plans lawsuit against Xerox over voided acquisition

The tumult involving the $6.1 billion acquisition of Xerox Corp. by Japan’s Fujifilm Holdings took yet another turn when Fujifilm announced that it planned to sue Xerox over the termination of the deal.

fujifilm xerox
Kenji Sukeno

In an earnings briefing held Friday, Fujifilm President and Chief Operating Officer Kenji Sukeno declared the Norwalk-headquartered Xerox “has no right to scrap the contract unilaterally” and insisted that the agreement between the companies was “legally binding.”

“We are currently in talks with lawyers on the schedule for filing the lawsuit and plan to go to court as soon as possible,” Sukeno stated, although he did not say whether the company would file its lawsuit in the U.S. or Japan.

Sukeno declined to specifically mention Xerox shareholders Carl Icahn and Darwin Deason, who were the primary players in voiding the deal and shaking up the Xerox executive team. However, he made it clear that any further talks between Fujifilm and Xerox would not involve this pair.

“We will only negotiate with Xerox management,” said Sukeno.

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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