Xerox Settles ACS Shareholder Claims For $69M

Law360, New York (August 25, 2010, 10:50 AM EDT) -- A Delaware state court judge has approved Xerox Corp.’s $69 million settlement with Affiliated Computer Services Inc. shareholders over Xerox's acquisition of the company, resolving claims that the $6.4 billion deal overcompensated ACS’ former Chairman Darwin Deason and denied stockholders their due.

Judge Donald Parsons Jr. of the Delaware Chancery Court signed off on the settlement Tuesday, finalizing one of the largest settlements in the court’s history, according to Grant & Eisenhofer PA’s Stuart Grant, co-lead counsel for the plaintiffs.

“The $69 million settlement represents a...
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