|
|
|
|
|
1st Safarul Muzaffer 1436 | Monday, Nov 24, 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According to the BBC, Apple has now withdrawn the proposals for a shareholder vote on the preference share matter, making the legal battle unnecessary.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

Attack on media persons at Rampal's a...

A group of journalists on Monday moved the Supreme Court seeking a direction to the Centre and Haryana for ordering a judicial probe into al ...

BJP confident of holding Amit Shah meet in...

The state unit of BJP on Monday expressed confidence of holding the proposed meeting of BJP president Amit Shah in the city on November 30. ...

Turkey rejects easing relations with Egypt

Turkish President Recep Tayyip Erdogan said Monday that he rejected the reconciliation efforts for friendly relations with Egypt. Turkey ...

Related News

Aviators firm to provide air ambulance services

Indian national operator Aviators Air Rescue Ltd will provide air ambulance services across the coun ...

Japan helps to accelerate economic activity in ASEAN

Myanmar has become a new investment destination. The rapid economic growth and rise in per capita in ...

Coimbatore Zone aims to achieve Rs 5,000 crore business

The Coimbatore Zone of Andhra Bank aims to achieve a business level of Rs 5,000 crore by the end of ...

Post new comment

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

Rs. 26250 (Per 10g)

Opinion Poll
Do you think introduction of grills to separate ladies and gents in RTC buses add to travel woes?
YesNoCan't say

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

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