New Zealand sources say that the long-running legal case between Fuji Xerox NZ and EY (Ernst & Young), Neil Whittaker and two other former FXNZ executives, has been settled without going to trial. It is not yet known if this will influence the Australian Federal Court case, due to be heard on September 21st. The NZ Serious Fraud Office investigation in on-going.

fujifilm logo building
The 'accounting scandal' claimed not just the merger, but the jobs of several senior executives

It is understood that the terms of the settlement are to remain confidential, but that Fujifilm (then parent of FXNZ, which is now named Fujifilm Business EY crop fill 280x223Innovation), EY and the other respondents are satisfied with the outcome.

Here are selected links to the origins of the 5-year saga that contributed to the failure of Fujifilm's attempted US$6billion takeover of Xerox Corp. in the USA:

https://wideformatonline.com/news/wide-format-news/9614-commentary-andy-mccourt-on-xerox-fujifilm-one-year-after.html

https://wideformatonline.com/news/wide-format-news/9612-xerox-takeover-unlikely-but-alliance-secure-fujifilm.html

https://wideformatonline.com/news/wide-format-news/10076-judge-rejects-shareholder-class-action-deal-in-failed-xerox-fujifilm-merger.html

https://wideformatonline.com/news/wide-format-news/10662-fuji-xerox-accounting-case-whittaker-denies-any-wrongdoing-or-breach-of-duty.html

https://wideformatonline.com/news/wide-format-news/9750-nz-fraud-office-defends-lengthy-fuji-xerox-investigation.html

 

More information as it comes to hand. The Australian Federal Court case management hearing is scheduled for September 21st in the Perth branch, with Justice Feutrill presiding.

According to the NZ Serious Fraud Office website, the investigation concerning Fuji Xerox NZ, which stareted with a whistle-blower report, is still on-going.

 

 

 

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