CEO Ursula Burns said the company is planning to reverse its acquisition of Affiliated Computer Services, a company Deason founded in 1988. Xerox bought ACS for $6.4 billion and is planning to spin off those operations into Conduent, a business process outsourcing business.
A spokesperson at Xerox called the lawsuit "meritless" and an analyst with New York City-based research firm CFRA Research said the lawsuit most likely will not interfere with the split.