[quote] A judge handed hedge fund star David Einhorn a victory in his court battle with Apple Inc on Friday, blocking the iPhone maker from moving forward with a shareholder vote on a controversial proposal to limit the company’s ability to issue preferred stock.
U.S. District Judge Richard Sullivan in Manhattan granted a motion by Einhorn’s Greenlight Capital for a preliminary injunction stopping the vote on that proposal. The vote was scheduled for February 27 as part of the company’s annual stockholders’ meeting.[/quote]
It looks like Clayton Christensen was right. Despite Apple’s huge cash pile, investors are still dictating what companies can and cannot do!