Two days after reaching a settlement agreement with a pair of activist investors to oust its chief executive and revamp its board, Xerox Corp. said they instead would stay in place after the deal expired without certain conditions being met.
The company said in a news release that the agreement with Carl Icahn and Darwin Deason struck Tuesday had expired at 8 p.m. ET on Thursday without the execution of “stipulations discontinuing the Deason litigation with respect to the Xerox defendants.”
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