3 ms·
This headline is wrong and very misleading. Even the source article headline breaks out the two items - "Greenlight's Einhorn sues Apple, seeks bigger payout"
by crusso 14y ago
This headline is wrong and very misleading. Even the source article headline breaks out the two items - "Greenlight's Einhorn sues Apple, seeks bigger payout"
They're related, but the actual point of the law suit is at the bottom of the article:
Greenlight said it is opposed to the proposal, No. 2 on Apple's proxy, which the firm said would remove the company's ability to issue preferred stock from its charter.
He isn't suing to force Apple to release cash. He's suing so that Apple doesn't change the rules that would make it harder to get preferred shares out to shareholders.
It's more correct to say that he's suing so that one avenue for divesting cash doesn't get removed from the table.