+ Reply
Results 1 to 3 of 3

Your favorite Apple, iPhone, iPad, iOS, Jailbreak, and Cydia site.


Thread: Greenlight Capital Turns Red Light on Apple Lawsuit

is a discussion within the

Mac News

forums, a part of the

General Apple/Mac

section;
...
  1. #1
    MMi Staff Writer Michael Essany's Avatar
    Join Date
    Aug 2009
    Location
    Valparaiso, Indiana
    Posts
    3,627
    Thanks
    17
    Thanked 1,474 Times in 561 Posts

    Default Greenlight Capital Turns Red Light on Apple Lawsuit


    Last month, hedge fund manager David Einhorn, who oversees management of Greenlight Capital, filed a lawsuit against Apple in response to a growing "cash problem" the company purportedly exhibits. Blasting Apple's hoarding tendencies, Einhorn says Apple's $137 billion in cash-on-hand shouldn't be so far removed from shareholders.

    Greenlight brought the lawsuit to federal court, hoping it would force Apple to modify a proposal in its proxy at that time. Specifically, Greenlight was opposed to a proposal that would remove Apple's ability to issue preferred stock from its charter.

    Last week, Apple yanked that proposal from its shareholder meeting, after a federal judge ruled it had been “impermissibly bundled” with other matters requiring shareholder consideration, and issued an injunction preliminarily blocking a vote on it.
    On Friday, AllThingsD confirms, Einhorn's hedge fund dropped its lawsuit - a lawsuit that Apple CEO Tim Cook labeled as a "silly" sideshow. "I find it bizarre we find ourselves being sued for doing something that's good for shareholders," Cook remarked.

    Not admitting defeat, a Greenlight spokesman says: “Apple removed the bundled proposal from the shareholder meeting, therefore resolving the issue.”

    Source: AllThingsD

  2. #2
    My iPhone is a Part of Me thevmax's Avatar
    Join Date
    Mar 2009
    Location
    West Milwaukee
    Posts
    586
    Thanks
    9
    Thanked 36 Times in 28 Posts

    Let me guess...Judge Lucy Koh has a free Samsung Galaxy IV!

  3. #3
    Livin the iPhone Life
    Join Date
    Jul 2010
    Posts
    1,087
    Thanks
    46
    Thanked 35 Times in 29 Posts

    Quote Originally Posted by thevmax View Post
    Let me guess...Judge Lucy Koh has a free Samsung Galaxy IV!
    Not only is she not the judge but Samsung had nothing to do with it and the judge had nothing to do with the case being thrown..

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts