Judge Grants Einhorn Victory Over Apple By Stopping Preferred Stock Vote

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.

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