MacNN | Greenlight Capital withdraws lawsuit against Apple
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Greenlight Capital withdraws lawsuit against Apple
Friday, March 1, 2013 @ 12:34pm

Greenlight Capital has withdrawn its lawsuit against Apple over a proxy proposal that was meant to be voted on at this week's shareholders' meeting, says AllThingsD. Before the meeting Greenlight had managed to secure an injunction against the vote from a federal judge. Regarding the withdrawal, a Greenlight spokesman explains that the company managed to achieve its aims with the lawsuit. "Apple removed the bundled proposal from the shareholder meeting therefore resolving the issue."



Greenlight and its owner David Einhorn claimed that the proposal violated a Securities and Exchange Commission rule against bundling multiple proposals together, and would prevent a preferred stock plan the firm wanted. Apple, though, said that the SEC had already reviewed the measure, and that if passed the initiative would've actually benefited shareholders by giving them a vote over issuing preferred stock. At one point Apple CEO Tim Cook described the case as a "silly sideshow."

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • China Mobile sees more than 33K iPhone 6 pre-orders in first hours - 1:38 AM EST
  • Five-hour iTunes Stores downtown fixed, no explanation provided - 12:37 AM EST

    Today's iPodNN Stories:
  • EVGA announces three X99 motherboards at PAX, other products in works - 2:05 AM EST
  • MSI launches three X99 motherboards at PAX, puts notebooks on display - 12:40 AM EST
  • Maingear shows new X99, Haswell Extreme Edition machines at PAX - 11:20 PM EST
  • HyperX shows off Predator DDR4 RAM, headsets, mouse pads at PAX Prime - 9:30 PM EST
  • Home Depot investigating possible credit card data breach - 6:39 PM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.