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  (Source: amazonaws.com)
Cook said the board is currently discussing Einhorn's proposal, and even called it "creative"

Apple CEO Tim Cook called David Einhorn's lawsuit against the iPhone maker "a sideshow," citing the number of media and television interviews Einhorn has participated in since it was launched.

Einhorn, an American hedge fund manager, is suing Apple over a proposed change to the company's charter that would throw out Apple's ability to issue blank check preferred stock per its judgment. More specifically, the lawsuit opposes how this charter change is packaged together with two other proposals in "Proposal 2."

Einhorn wants Apple to open up its fat wallet of $137 billion in cash and issue prepetual preferred shares that pay dividends to existing shareholders.

Cook said the board is currently discussing Einhorn's proposal, and even called it "creative." However, Cook has called the lawsuit and the number of media interviews surrounding the topic "a silly sideshow" and said it's "bizarre that we would find ourselves being sued for doing something good for shareholders."

"This is a waste of shareholder money and a distraction and not a seminal issue for Apple," said Cook. "That said, I support Prop 2. I am personally going to vote for it."

Einhorn is the influential investor that pushed for Microsoft CEO Steve Ballmer's resignation back in May 2011. He said Ballmer was key in many of Microsoft's misses at the time, such as puchasing Skype for nearly twice its market valuation and missing the boat when it came to tablets.

Source: Reuters



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RE: LoL?
By Cheesew1z69 on 2/13/2013 12:26:27 PM , Rating: 3
quote:
Jeez - do you struggle with the concept of hypotheticals?
Jeez - why are you such a douche?

quote:
Apple do give money back to the shareholders in the form of dividends, they may give more in the future.
And that didn't start until AFTER Jobs died as far as I am aware.


RE: LoL?
By Tony Swash on 2/13/2013 2:04:43 PM , Rating: 1
quote:
Jeez - why are you such a douche?


You have been to debating classes again haven't you? I can tell because of the logical way you argue against differing points of view, which is quite hard, which is why the slow witted tend to just fall back on insults.

quote:
And that didn't start until AFTER Jobs died as far as I am aware.


And that's relevant how?


RE: LoL?
By Cheesew1z69 on 2/13/13, Rating: 0
RE: LoL?
By Cheesew1z69 on 2/13/2013 2:25:52 PM , Rating: 2
Oh, and have fun with your -1 ... LOL


"You can bet that Sony built a long-term business plan about being successful in Japan and that business plan is crumbling." -- Peter Moore, 24 hours before his Microsoft resignation

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