Xerox investor sues to stop company's split

Billionaire Darwin Deason filed suit this week to block Xerox from breaking into two separate publicly traded companies.

Deason claims Xerox would destroy the value of his stake in the company if the reorganization is allowed to continue.

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 Conduent, a business process outsourcing business that did $7 billion in revenues in 2015.

Read more from the Rochester Democrat and Chronicle.