Fri, Oct 28, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Update: Einhorn's Greenlight Capital drops lawsuit against Apple

Monday, March 04, 2013

Bailey McCann, Opalesque New York: Activist hedge fund manager David Einhorn has voluntarily dropped his lawsuit against Apple. As Opalesque has reported, Einhorn filed suit against Apple over a proxy vote to be held at the company's annual shareholder meeting. In February, Einhorn won an injunction against Apple stopping the vote and leaving the ultimate goal of the suit in question. Today, Einhorn dropped the suit buy may still have the upper hand.

According to a Bloomberg report, Greenlight said in an email after dropping the suit that the injunction effectively resolved the issue. Even so, Apple still faces public questions about what it intends to do with all that cash. By dropping the suit, Einhorn may have more leverage to bring Tim Cook around to his ideas.

The Los Angeles Times notes that for the moment Apple shareholders remain unsettled and the votes for the original proxy measure during this week's shareholder meeting went uncounted due to the injunction. Tim Cook has said that should the company issue preferred stock between now and ne......................

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. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  2. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  3. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso

  4. Barclay CTA Index down 0.40% in September (+0.10% YTD)[more]

    Managed futures traders lost 0.40% in September according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.10% year to date. “The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman, founder and president of BarclayHe

  5. Opalesque Exclusive: Meet Emma, your friendly A.I. helper[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Shaunka Khire, who co-designed an artificial intelligence (AI) robot called EMMA/MANSI, talks to Opalesque