David Einhorn’s Greenlight Capital has withdrawn its lawsuit against Apple over a proxy proposal.
The proposal, which aimed to change Apple’s ability to issue preferred stock, was withdrawn from a vote at Apple’s recent shareholder meeting after it was blocked by a court ruling.
Despite the lawsuit’s success, Apple CEO Tim Cook referred to it as a “silly sideshow,” and the company suggested that it was based on a misunderstanding regarding Apple’s position on preferred stock.