Apple Urged by Einhorn to Return More Cash to Shareholders
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Apple Inc., the world’s most valuable technology company, was urged by David Einhorn’s Greenlight Capital Inc. to return more of its $137.1 billion in cash to shareholders.
Greenlight, an Apple investor, asked fellow holders to vote against a proposal -- outlined in the company’s annual proxy statement -- that would eliminate preferred stock. Greenlight sued to block the measure, asking a federal court in Manhattan to bar Apple from certifying votes cast in its favor.