Xerox Corp. defended its chief executive against accusations from one of its biggest investors Thursday, saying Jeff Jacobson had proper board authority to negotiate a deal with Fujifilm Holdings Inc., as the sides continued to brawl over the transaction.
Billionaire Xerox shareholder Darwin Deason has alleged in a lawsuit that Mr. Jacobson was seeking to save his own job in rushing to complete a deal with Fujifilm in January. The civil suit, filed in New York City in March and amended on Sunday, cites documents and board...