A deal to end a shareholder lawsuit and for Xerox CEO Jeff Jacobson to step down will not happen. The deal was reached on Tuesday, but was pending a dropped lawsuit by 8 p.m. Thursday.

A deal to end a shareholder lawsuit and for Xerox CEO Jeff Jacobson to step down will not happen.

The deal was reached on Tuesday, but was pending a dropped lawsuit by 8 p.m. Thursday.

Shareholders sued Xerox over its proposed merger with Fuji. They felt that the deal undervalued Xerox and gave an unfair advantage to Fuji.

The lawsuit remained Thursday night, so Xerox’s CEO and Board of Directors will remain in place.