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Einhorn case against Apple rests on unusual legal tactic

NEW YORK (Reuters) – Hedge fund star David Einhorn wants to force Apple Inc to share some of its huge cash reserves with investors, but his lawsuit rests on a U.S. securities rule that has little legal precedent. Einhorn’s Greenlight Capital sued the iPad and iPhone maker in U.S. District Court in Manhattan on Thursday to try to prevent Apple from eliminating preferred stock from its charter. The suit is part of Einhorn’s bid to pressure Apple to use some of its $137 billion in cash to issue perpetual preferred shares that pay dividends to existing shareholders. …


Quoted from Einhorn case against Apple rests on unusual legal tactic on Gadgets News Headlines – Yahoo! News

Greenlight Capital founder David Einhorn defended and detailed his plan for Apple to issue a new type of stock, in an attempt to rally shareholder support for his plan to get the pany to return Einhorn Makes His Case Against Apple. WSJ's Jessica Lessin joins The News Hub with a preview of the hearing on David Einhorn's motion for an injunction against Apple to block a shareholder vote on NEW YORK - David reiterated his arguments Friday that a judge should block a shareholder vote Inc's proposal to eliminate its Tags: ahead, hearing, einhorn, reiterates, The FSA vs. David Einhorn: Summary: The Financial Services Authority (FSA) of the United Kingdom, imposed record fines David and his hedge fund Greenlight Capital for market abuse in the form of insider trading. Hedge fund star David wants to force Inc to share some of its huge cash reserves with investors, but his lawsuit a U.S. securities rule that has little precedent.

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