Sunday, February 24, 2013

DealBook Judge Sides With Einhorn and Halts an Apple Shareholder Vote

International Herald Tribune Friday 22nd February, 2013

A federal judge on Friday ordered Apple to halt collecting shareholder votes on a contentious proposal to change some of its corporate charter, handing a victory to the hedge fund manager David Einhorn.The ruling issued Friday touches on a fairly narrow legal point. But it signals a clear victory for Mr. Einhorn, who has taken up a fight with Apple over using some of its $137 billion cash hoard to make additional payouts to shareholders.Mr. Einhorn's hedge fund firm, Greenlight Capital, has sued Apple in Federal District Court in Manhattan, arguing that the company improperly tied together sev...

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