Judge Grants Einhorn Victory Over Apple By Stopping Preferred Stock Vote

  • February 22, 2013

David Einhorn

Judge Grants Einhorn Victory Over Apple By Stopping Preferred Stock Vote

Reuters:

[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!

Tech Quotes..quotes from the best tech news and writings on the web.

Posted by | Posted at February 22, 2013 21:12 | Tags: , , , , , , ,
Storm is a technology enthusiast, who resides in the UK. He enjoys reading and writing about technology.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Posts

Dediu on The “True” Definition of Innovation

April 19, 2014
Famed Apple analyst Horace Dediu has written another masterpiece, positing...

Tony Fadell: I Change The World Twice And I Want To Do It Again

March 23, 2014
In an interview with The Sunday Times, former Apple executive...

© 2023 THETECHSTORM. All Rights Reserved.