Apple responds to Greenlight Capital lawsuit seeking larger stock dividend

Apple responds to Greenlight Capital lawsuit seeking larger stock dividend

Apple has issued a rare, rapid public response to a shareholder lawsuit, countering charges by Greenlight Capital’s David Einhorn that the company hasn’t done enough to return its large cash reserves to shareholders. In sharp but diplomatic language, Apple suggests that Einhorn and Greenlight misunderstand or are misrepresenting an important governance proposal Apple will present to shareholders at their annual meeting on February 27. Earlier today, Greenlight filed a federal lawsuit against Apple and issued a public letter urging Apple shareholders to vote against a proposal by Apple. “Greenlight is voting AGAINST Proposal 2 in Apple’s proxy, which would eliminate preferred stock from Apple’s charter and thus restrict the Board’s..

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Apple responds to Greenlight Capital lawsuit seeking larger stock dividend

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