Apple CEO Refers to Einhorn Lawsuit as "Silly Sideshow," "Bizarre"
February 12, 2013 4:32 PM
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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.
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2/13/2013 9:18:04 PM
you see, i assumed you made a typo and were comparing osx to windows. I assumed you had a moment of mental clarity to try and compare apples to apples, rather than apples to oranges. so, while we're comparing apples to oranges, my car has more horsepower than my neighbor's cat is happy.
If you tried to pass off ios as a desktop operating system, it would have a smaller install base than dos 3.3 has now.
you are comparing 2 completely different markets..
so, i'll make another comparison.. the number of legos sold in sets and via grab bags ammount to about 19 billion legos. That's how many hundred times more than ios devices sold?
clearly, legos are better than ios devices.
2/13/2013 9:33:36 PM
Funny how iOS outselling Windows in one quarter is so important, yet when comparing apples to apples so to speak... Android has been outselling IOS for 2 years and its now 5 to 1 , but that is irrelevant... LOL. What's even funnier is he thinks no one notices how full of it he is.
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