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Affiliated Computer Services Company News

Fri, 28 Oct 2016 18:40:00 GMT

Xerox settles billionaire's lawsuit  -  Rochester Democrat and Chronicle
Deason founded Affiliated Computer Services, which was later acquired by Xerox. The agreement reached Thursday will give Deason preferred stock in both Xerox and Conduent Inc., according to a filing with the U.S. Securities and Exchange Commission.
Wed, 19 Oct 2016 15:39:46 GMT
Xerox Sued By Shareholder Over BPO Spin-off  -  Nearshore Americas
Darwin Deason, who owns a 6.1% stake, claims that the split violates the agreement he signed with Xerox before it bought his Affiliated Computer Services Inc (ACS) in 2010. Reports say Deason is seeking preferential shares in the company's BPO business ...
Sun, 16 Oct 2016 02:05:46 GMT

Xerox Shares Under Pressure as Investor Sues To Block Split  -  Udaipur Kiran
In his lawsuit, Deason pointed out the agreement that Xerox reached in 2009 when the company purchased Affiliated Computer Services. The transaction was done with cash and stock valued at approximately $6 billion. He charged the company of violating ...
Fri, 14 Oct 2016 16:51:57 GMT

Xerox Billionaire Sues To Block $7 Billion Spinoff  -  Forbes
Darwin Deason, who made a fortune selling his IT business Affiliated Computer Services to Xerox for $6.4 billion in 2010, is now suing the company over what he calls an “unlawful” corporate reorganization plan. Deason, whose net worth presently stands ...
Fri, 14 Oct 2016 16:01:01 GMT
Investor Throws Roadblock In The Way Of Xerox Split  -  Rincon Hill News
Xerox CEO Ursula Burns announced the split in January, effectively reversing the company's acquisition of Affiliated Computer Services, a document outsourcing firm founded by Deason in Dallas in 1988. Xerox bought that business in 2010 for $6.4 billion.
Fri, 14 Oct 2016 14:23:07 GMT

Investor in Xerox Suing to Stop Split Up of Company  -  Marea Informative
However, Deason claims in documents from the court that Xerox had agreed he would be given preferred shares that were intended to compensate him for the stake he had in Affiliated Computer Services. Instead, Xerox splitting would leave Deason with ...
Fri, 14 Oct 2016 12:32:31 GMT
Xerox investor sues to stop company's split  -  Springfield Business Journal
Xerox announced earlier this year plans to reverse its acquisition of Affiliated Computer Services, a Dallas-based firm founded by Deason in 1988. Xerox, which bought the business in 2010 for $6.4 billion, seeks to spin off those operations into ...
Fri, 14 Oct 2016 09:19:19 GMT
Xerox's Largest Individual Shareholder Files Lawsuit Over Spin-off Plan  -  RTT News
Xerox's plan is to house the traditional copier business, while business services, including the ACS business, would be called Conduent Inc. In his complaint, Deason noted that Xerox would turn some of his stake, $300 million worth of preferred shares ...
Fri, 14 Oct 2016 08:29:27 GMT

Darwin Deason  -  TechEye
The Conduent business includes the operations of Dallas-based Affiliated Computer Services Inc, the company that Deason founded and that was acquired by Xerox for $6.4 billion in 2010. Xerox announced the split in January and also said at the time that ...
Fri, 14 Oct 2016 01:52:43 GMT
Xerox's Largest Individual Shareholder Sues to Block Split  -  Nasdaq
Mr. Deason filed the lawsuit Tuesday in a U.S. District Court in Dallas, saying the company has violated an agreement it struck with him in 2009 before Xerox acquired his business, Affiliated Computer Services Inc., for about $6 billion in cash and stock.