“David Einhorn’s Greenlight Capital has dropped its lawsuit against Apple Inc. after the company withdrew a controversial proposal from its Wednesday shareholder meeting,” Wallace Witkowski reports for MarketWatch.
“The case was closed following a Thursday filing with the U.S. District Court for the Southern District of New York,” Witkowski reports.
Brief article in full here.
John Paczkowski reports for AllThingsD, “Reached for comment, a Greenlight spokesman said the suit had served its purpose: ‘Apple removed the bundled proposal from the shareholder meeting therefore resolving the issue.'”
Brief article in full here.
Related articles:
Why David Einhorn’s win may be Apple’s gain – February 26, 2013
Apple’s cash drama is far from over; Einhorn’s victory could embolden others – February 26, 2013
Apple loss to Einhorn ups pressure for AAPL shareholder payout – February 25, 2013
Judge sides with Einhorn, halts Apple shareholder vote on Proposal No. 2 – February 22, 2013
Einhorn says Apple ‘iPref’ stock would unlock pent up value – February 21, 2013
Greenlight’s Einhorn outlines his plan for Apple to return more cash to shareholders – February 21, 2013
Einhorn’s Greenlight Capital: Every Apple shareholder should get preferred shares ‘for free’ – February 21, 2013
Hedge fund manager Einhorn takes Apple campaign to shareholders via conference call – February 21, 2013
Einhorn’s lawsuit against Apple hangs on ‘irreparable harm’ – February 20, 2013
Greenlight makes case to stop Apple preferred-stock vote – February 19, 2013
Apple accused by Greenlight of breaking law by bundling – February 16, 2013
Judge approves Apple request to expedite Einhorn’s Greenlight Capital case – February 11, 2013
Apple’s cash return options: Pay U.S. tax man or incur massive debt – February 11, 2013
Bernstein’s Sacconaghi: Most important for Apple is a capital allocation plan – February 11, 2013
Evaluating David Einhorn’s proposal to Apple – February 9, 2013
The colossal gall of bad Apple investors – February 8, 2013
Cramer: By suing Apple, wrong-headed Einhorn has gone too far – February 8, 2013
Analysts: Apple may crack open its massive, bulging wallet for shareholders – February 8, 2013
Apple with $137 billion in cash considers preferred stock – February 8, 2013
Einhorn’s Apple lawsuit marks biggest investor challenge in years – February 8, 2013
Gamco’s Haverty: Apple’s cash is ‘shareholders’ cash’ (with video) – February 8, 2013
Apple shares surge following company response to Einhorn – February 7, 2013
Greenlight’s Einhorn sues Apple over plan to eliminate preferred stock, wants more cash distributed – February 7, 2013
Greenlight Capital urges Apple shareholders to vote ‘No’ on proposal 2 that would impede Apple’s ability to unlock shareholder value – February 7, 2013
Greenlight’s Einhorn sues Apple, ‘dissatisfied with capital allocation strategy’ – February 7, 2013
Legg Mason’s Miller: Apple stock would rise 50% on ‘sensible capital allocation’ alone – February 6, 2013
Gamco’s Haverty: Apple board can be sued over excessive accumulation of cash (with video) – January 28, 2013
Greenlight’s Einhorn: Apple ‘the best big growth company’; Fed stimulus ‘counterproductive’ – July 10, 2012
David Einhorn says Apple isn’t a below-average company, it’s just priced like one – May 30, 2012
Tim Cook should never have said sideshow. That was immature and not productive.
This guy seriously worries me.
Personally, I like a leader who isn’t afraid to call it like they see it. It was a fscking sideshow, and he was right to call it out as such.
It was a sideshow and I give Tim credit for calling it what it was. Now if Einhorn and his ilk would just drop off the face of the earth, it would make things far more pleasant.
much ado about nothing.
Einhorn did a very basic maneuver and it worked out exactly as planned. Apple was once more panted by an ass clown.
Isn’t coercing someone to provide money or a service (in this case, the service of not bringing something to a vote) extortion? I thought that was a criminal offense. Maybe not, if you have enough money…
Ditry Bloodsukers…. Got what they waanted.
Really helped the stock price today.
It’s pretty obvious that Einhorn is the one that has driven the stock price down so dramatically. Today’s price affirms that. Nothing could be clearer. The market has spoken.