Einhorn scores legal victory vs. Apple in cash scuffle

A U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with Apple Inc. U.S. District Judge Richard Sullivan in Manhattan granted a motion by Einhorn’s Greenlight Capital for a preliminary injunction stopping a vote on that proposal, scheduled for the company’s February 27 stockholders’ meeting. Apple Chief Executive Tim Cook last week dismissed the lawsuit as a “silly sideshow.” The lawsuit itself challenged a measure called Proposal No. 2 that Apple put forward, which would eliminate its power to issue preferred shares without a shareholder vote.

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Einhorn scores legal victory vs. Apple in cash scuffle