|
|
|
|
|
25th Zilhaj 1435 | Tuesday, Oct 21, 2014
Business

Investor drops legal attempt to get Apple ‘release huge cash pile to shareholders’

Saturday, 2 March 2013
Comments(0)
March 02:

London, Mar 2 (ANI): A lawsuit by the hedge fund manager David Einhorn’s Greenlight Capital challenging an Apple proposal governing stockholder rights has been dropped.

Einhorn had wanted the iPhone and iPad maker to create a new class of special preferred shares.

Apple originally said it would only do this if all shareholders were given a vote on the plan, but has since dropped this idea.

According to the BBC, Apple has now withdrawn the proposals for a shareholder vote on the preference share matter, making the legal battle unnecessary.

Apple is sitting on a 137 billion dollars cash pile that some shareholders would like to see put to work, the report said.

The sum is the equivalent of Hungary''s annual gross domestic product, it added.

Einhorn''s Greenlight said in a statement that ‘Apple removed the bundled proposal from the shareholder meeting, therefore resolving the issue.’ (ANI)

Latest News

Anni Dewani was thinking of getting divorce even as she arrived in Cape ...

Anni Dewani's cousin, Sneha Mashru , has reportedly revealed that newly married Anni was thinking of ...

Nun to release debut album featuring '...

Sister Cristina, the Italian nun who became world famous after winning the first edition of "The Voice" contest in Italy this year, is set t ...

Japan catches world attention through conventional and modern novelty

"Sadou", a tea ceremony, is one of the Japanese traditions to serve "Matcha", a kind of powdered gre ...

Related News

Govt to re-look at gold import curbs after...

Faced with 5-fold rise in gold imports that is pushing up the current account deficit, Finance Minister Arun Jaitley today said the governme ...

India, China boost consumer PC sales in AP...

Higher-than-expected shipment in India and China has helped consumer PC sales in Asia Pacific region grow eight per cent in July-September 2 ...

Diesel deregulation would result in a sharp fall in diesel inflation to 4 percent from 13 percent by ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 27230 (Per 10g)

Opinion Poll
Do you think the victory of BJP in Haryana and Maharashtra, last nail in the Congress coffin?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com