Tue, Jul 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Update: Greenlight Capital speaks out to investors and the media, pushing for support of its Apple campaign

Friday, February 22, 2013

Bailey McCann, Opalesque New York: As Opalesque has reported, hedge fund activist David Einhorn and his firm Greenlight Capital have launched a fight over a change to Apple's corporate charter that would require shareholder approval for the issuance of preferred stock. Einhorn says that the change is a bad idea, and spoke directly to Apple CEO Tim Cook on the matter. He's also filed a lawsuit claiming that the vote as currently slated to happen during Apple's annual shareholder meeting at the end of this month is a violation of SEC rules. Since then, a few big names who are also Apple shareholders like CalPERs, ISS, and Glass Lewis have all come out in support of Apples proposed change. Now, as the shareholder meeting looms large, Einhorn took to the phones speaking to investors and the media about why his ideas are better.

"It's not complicated, it's simple," Einhorn said of his idea on a call with the media earlier this afternoon. In essence, he views the change as a means of killing off preferred stock or at least making it significantly more difficult to issue. Instead, he wants Apple to distribute perpetual preferred shares to Apple shareholders for free. In the presentation he cited IBM and Texas Instruments as examples of companies that are friendly to shareholders and reiterated his claim that the proposed proxy wo......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Launches - Crypto boom: 15 new hedge funds want in on 84,000% returns, Crypto madness is striking VCs as Union Square analyst leaves to start new fund[more]

    Crypto boom: 15 new hedge funds want in on 84,000% returns From Forbes.com: With 43 projects raising $1.2 billion in initial coin offerings since May 1, according to Nick Tomaino's The Control, and with stratospheric returns for so many ICOs -- 82,000% for Ethereum, 56,000% for IOTA, 44,

  2. FinTech - The machines are coming... Elon Musk's grim warning, Tezos' $232 million ICO may just be the beginning, A gentle introduction to Initial Coin Offerings (ICOs), Billion dollar tokens, ICOS & crazy market swings WTF is going on!?, How AI is changing the way we invest, How the tech revolution is bringing flip-flops and beanbags to Wall Street, A 'machine-learning' approach to venture capital[more]

    The machines are coming... Elon Musk's grim warning From Tenplay.com.au: Tesla chief Elon Musk has called on US Governors to take 'decisive' action to curtail "the greatest risk we face as a civilization": Artificial Intelligence, or AI. Speaking at a meeting of the National Governor Ass

  3. News Briefs – Sears inks $200 million credit line from CEO Eddie Lampert's hedge fund, shares jump 9%, Rwanda: Global hedge fund to increase investments[more]

    Sears inks $200 million credit line from CEO Eddie Lampert's hedge fund, shares jump 9% Sears Holdings has landed a fresh line of credit, valued at $200 million, from its CEO Eddie Lampert's hedge fund, the retailer said Monday. Sears' stock climbed about 9 percent higher Monda

  4. Despite current limits, robo-advisors will be preferred investment solution for retail, gain importance for affluent and high net worth[more]

    Matthias Knab, Opalesque: Flynt, a Swiss FinTech focusing on proprietary technology platform for private and institutional clients, has published a brief paper on "Investing in the world of robo-advice and passive instruments". As investors will become more reluctant to pay for investment advi

  5. Investing - Hedge fund CQS favors structured credit, Direct lending funds' fading all-weather appeal, Funds hunt for cracks in most-prized US shopping malls[more]

    Hedge fund CQS favors structured credit From BArrons.com: A hedge fund manager that can invest across the investment landscape says in his latest semi annual report this week that he's finding opportunities in structured credit -- particularly the shorter term, floating rate kind. Exampl