DALLAS, Sept. 28, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group, led by a former Federal Judge and former U.S. Attorney, launched a shareholder investigation into the proposed acquisition of Affiliated Computer Services (NYSE:ACS) by Xerox.
According to the agreement, ACS shareholders will receive only $18.60 per share in cash plus 4.935 Xerox shares per ACS share they currently own. On word of the agreement, Xerox shares dropped more than 10% to $8.12, as investors voiced concern about the fact that Xerox will assume $2 billion debt load and integration issues. Lynn Blodgett will continue to run ACS once it is sold to Xerox. However, ACS shareholders will then have Xerox stock, which may not perform as well as ACS stock.
Kendall Law Group's investigation concerns whether the consideration to be paid to ACS shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of ACS and whether the directors and special committee members of ACS may have breached their fiduciary duties by not acting in the shareholders' best interests in connection with the sale process.
For information about your rights as an ACS shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has successfully litigated on behalf of ACS shareholders in the past through stock-options backdating litigation. The firm also has significant experience representing investors in mergers and acquisitions from Kendall Law Group's headquarters in Dallas, Texas.
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