Einhorn's Greenlight Wins Injunction Against Apple, Making A March Dividend Increase More Probable
by Zvi Bar
On Friday, February 22, Greenlight Capital, the hedge fund founded and run by David Einhorn, won an order preventing Apple Inc. (AAPL) from moving forward with a shareholder vote on certain provisions, including one designed to limit Apple's ability to issue preferred stock. The move may be seen as a minor victory for the activist shareholder. David Einhorn's Greenlight has urged Apple to issue high-yielding preferred stock in order to transfer some of the value of its $137 billion cash hoard to shareholders. Apple is opposed to Greenlight's proposal, but the pressure from it, as well as Apple's growing cash position makes a pending dividend increase of greater likelihood. read more »
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