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Carl Icahn sued by fellow Xerox shareholder

Carl Icahn sued by fellow Xerox shareholder

WHECTV
Updated: December 16, 2019 06:44 AM
Created: December 15, 2019 01:42 PM

NEW YORK (WHEC) — A Xerox shareholder is suing one of the company's largest investors.

Carl Icahn is accused of buying $1.2 billion worth of HP shares, knowing that Xerox was looking to buy the company, according to Bloomberg.

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The lawsuit filed by the Miami Firefighters Relief and Pension Fund claims Icahn breached his fiduciary duties to Xerox by purchasing the story because he knew Xerox was interested in acquiring HP.

The two companies have been sparring since HP's board of directors rejected a takeover proposal by Xerox in November.


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