“Greenlight Capital Inc. founder David Einhorn on Thursday began to detail his plan for Apple Inc. to return more cash to shareholders, in an attempt to rally other shareholders to support his plan for the company to issue a new type of preferred stock,” Jessica E. Lessin reports for The Wall Street Journal.
“The remarks, made in an unusual public conference call, attempted to paint a plan he has been pushing for weeks as reasonable,” Lessin reports. “‘It is not complicated. It is merely unfamiliar,’ Mr. Einhorn said in introductory remarks.”
Lessin reports, “He says that companies that fail to distribute cash to shareholders are punished by shareholders, mentioning Dell Inc. as a cautionary tale.”
Read more in the full article here.
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