“Apple (AAPL) Chief Executive Tim Cook says the company is still evaluating ways to return more of its ballooning cash pile to shareholders, but didn’t offer any fresh insights, at Apple’s annual shareholders meeting Wednesday,” Patrick Seitz and Kevin Shalvey report for Investor’s Business Daily.
“Cook said he still believes that a lawsuit filed against the company by activist shareholder and hedge fund manager David Einhorn is ‘silly,’ even though a federal judge ruled in Einhorn’s favor last week,” Seitz and Shalvey report. ‘The lawsuit was not about whether Apple should retain cash .. . it was about shareholder rights,’ Cook said. But he said the matter of what to do with Apple’s cash hoard of $137 billion is a serious one.”
Seitz and Shalvey report, “‘I don’t think the issue of returning cash to shareholders is silly — we’re seriously considering it,’ Cook said.”
Read more in the full article here.
