After the judge ruled in favor of a temporary injunction in the $6 billion merger injunction case, Xerox announced it would not pursue the deal and settled with shareholders. Retained by King & Spalding Shareholders sought to obtain a temporary injunction of Xerox’s proposed $6 billion deal with Fujifilm, alleging breach of fiduciary duty by Xerox’s CEO and board. Counsel for Darwin Deason, one of Xerox’s largest shareholders, retained Cornerstone Research, Jonathan F. Foster, an investment banking expert, Guhan Subramanian of Harvard Business School and Harvard Law School, and Professor Stephen Choi of New York University. Two weeks after the judge’s order, Xerox announced that it would no longer pursue the deal. In this case, Mr. Foster opined on the deal process and deal premium. Profes

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