David Einhorn’s Greenlight Capital has dropped its lawsuit against Apple, as noted by AllThingsD. Greenlight’s lawsuit against Apple called for a block of Apple’s shareholders’ ability to vote on a preferred stock proposal.
A judge recently blocked Apple from allowing its shareholders to vote on the preferred stock proposal.
Apple CEO Tim Cook previously called the situation a “silly sideshow:”
So, it doesn’t mean Apple won’t release preferred share. It means we need to go to common shareholders to get their approval,” he explained. “Frankily, I found it bizarre that we are being sued on that is something good for shareholders, but this is the position we’re in. It’s a silly side show.