Xerox spin-off opposed by shareholder

One of Xerox’s largest shareholders has sued the photocopy maker over its spin off plans.

For those who came in late, Xeros wants to spin off its document outsourcing business into a new publicly traded company.

Darwin Deason sued Xerox in a US District Court over its plans to create a new company called Conduent. Xerox said in a Thursday statement that Deason’s lawsuit was meritless and the company would seek its dismissal.