David Einhorn’s Greenlight Capital has withdrawn its lawsuit against Apple over a proxy proposal. The proposal, which aimed to change Apple’s ability to issue preferred stock, was withdrawn from a vote at Apple’s recent shareholder meeting after it was blocked by a court ruling.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. [via AllThingsD]
Greenlight Capital drops Apple lawsuit
By Phil Dzikiy
Phil Dzikiy was the Editor-in-Cheif at iLounge. He mostly edited and oversaw all site editorial content, managed staff and freelancers, made the final call on product review grades and awards, and led online coverage of all Apple events and live coverage of the International CES in 2015.