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Greenlight Capital says the issue in the suit was resolved when Apple removed the proposal related to preferred shares from consideration at its shareholder meeting.
David Einhorn's Greenlight Capital is suing Apple to block a shareholder proposal that would prevent the electronics giant from issuing preferred shares. Apple fires back, saying that the proposal wouldn't prevent preferred shares and that it will "thoroughly evaluate" Greenlight's plan.
The company removes a proposal that would eliminate its ability to issue "blank check" preferred stock without investor approval.
Legal victory for hedge fund manager's bid to force Apple to share more of its wealth with investors.
The outspoken Apple investor pitches others on his plan to set up a recurring payout called iPrefs.
The hedge fund manager suing Apple over its mountain of cash will address investors in a conference call and Webcast on Thursday.
The hedge fund manager's injunction request would "harm the public interest," Apple says in its response.
CEO Tim Cook says during a Goldman conference that the company doesn't have a Depression-era mindset and the lawsuit filed by David Einhorn's Greenlight hedge fund is a waste of time and money.
The iPad maker is expected to report record sales Tuesday, but its profits could take a hit for the first time in a decade.
The iPhone maker's treasure chest may swell by another $35 billion this year assuming it doesn't dole out more cash to its stockholders, says Moody's.