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ACS provides information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations.
Case description: Alleged that the members of the ACS board of directors breached their fiduciary duties by approving a merger with Xerox which allowed Darwin Deason, ACS’s founder, Chairman and largest stockholder, to extract for himself hundreds of millions of dollars of value that rightfully belonged to ACS’s public shareholders.
Cypress was offered as an expert witness on behalf of the court-appointed class plaintiffs regarding the fair value of ACS as well as the valuation and fairness opinions of ACS’s financial advisors. The case was settled in May 2010, with Deason, ACS and Xerox agreeing to pay a total of $69 million in cash.