Hedge fund magnate and famous Apple bull David Einhorn has dropped his lawsuit against the company in which he holds some 1.3 million shares. Einhorn’s Greenlight Capital on Friday withdrew the suit it brought against Apple over a proxy proposal that would have allowed shareholders to vote on eliminating preferred stock from the company charter. Last week Apple yanked that proposal from its shareholder meeting, after a federal judge ruled it had been “impermissibly bundled” with other matter requiring shareholder consideration, and issued an injunction preliminarily blocking a vote on it. Apple CEO Tim Cook had characterized Greenlight’s suit as a “silly sideshow.”

Categorised as: Chief Digital Officer | Digital Media | Feedster

Comments are disabled on this post