shareholders

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Apple shareholders are the latest to jump into the fray of a lawsuit against Apple over its anti-poaching agreements with a number of other tech companies. As we’ve previously reported, Apple, Google, Intel, Adobe, and a laundry list of other companies allegedly created illegal pacts to avoid hiring each others’ engineers, allowing each employer to keep its wages low without running the risk of a competitor snatching up its competition with a better deal.

Now, a little over a week after a class action settlement was rejected by the court for being too low, Apple shareholder R. Andre Klein has filed a derivitive complaint on behalf of all Apple shareholders (embedded below) accusing the company of “breach of fiduciary duty, gross mismanagement, waste of corporate assets, and breach of the duty of honest services.”

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<a href="https://twitter.com/setteBIT/status/439458564189335552">Image via SetteB.it</a>

This morning, Apple is holding its 2014 official shareholders meeting from its Infinite Loop campus in Cupertino, California. The proceedings are just beginning, and Apple executives are expected (per usual) to field questions from attending shareholders.

One of the orders of business at this meeting is voting to approve or reject both proposals from Apple’s management and shareholders. Bloomberg‘s Jon Erlichman reports that shareholders have rejected every proposal created by other shareholders while all proposals from Apple management have been approved…

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[tweet https://twitter.com/carl_c_icahn/status/426016453846790144]

Following a precatory proposal from billionaire investor and Apple shareholder Carl Icahn urging Apple to vote on a larger buyback, Icahn today announced on Twitter that he thinks Apple “is doing great disservice to shareholders by not having markedly increased its buyback.” He also said that he would soon send Apple another in-depth letter regarding his proposals and confirmed that he has purchased another $500 million in Apple shares bringing his total investment to $3 billion. 
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