December 13, 2019 / 11:34 PM / a month ago

Pension fund sues Icahn alleging he bought HP stake knowing Xerox's bid plan: Bloomberg

FILE PHOTO: The company logo for Xerox is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid

(Reuters) - A shareholder of Xerox Holdings Corp (XRX.N) has sued activist investor Carl Icahn alleging that he bought HP Inc (HPQ.N) shares with the knowledge that the printer maker was considering buying the stock at a premium, Bloomberg reported on Friday.

The Miami Firefighters Relief and Pension Fund filed the lawsuit against Icahn and an investment vehicle he controls, the report said. (bloom.bg/2soUK0V)

Carl Icahn and the pension fund did not immediately respond to Reuters request for comment.

HP in November rejected Xerox’s $33.5 billion buyout bid, prompting the printer maker to make plans to go hostile.

Earlier this month, Icahn, who owned 4.2% of HP as of Sept. 30, urged the personal computer maker’s shareholders who agree with the merger with Xerox to reach out to its directors.

Icahn also owns a near 11% stake in Xerox, making him the company’s largest shareholder.

Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber

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