Skip to main content

Greenlight calls off ‘silly sideshow’ lawsuit against Apple over preferred stock

Image via <a href="http://www.bloomberg.com/news/2013-02-22/apple-shareholder-vote-blocked-at-greenlight-s-request-1-.html"><em>Bloomberg</em></a>

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.

 

FTC: We use income earning auto affiliate links. More.

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

Manage push notifications

notification icon
We would like to show you notifications for the latest news and updates.
notification icon
You are subscribed to notifications
notification icon
We would like to show you notifications for the latest news and updates.
notification icon
You are subscribed to notifications