Einhorn drops lawsuit versus Apple, ends challenge
SAN FRANCISCO (Reuters) – Hedge fund manager David Einhorn’s Greenlight Capital withdrew its lawsuit against Apple Inc, after winning an injunction last week that blocked the iPhone maker from moving forward with a shareholder vote on a controversial proposal. Apple had sought to limit its ability to issue preferred shares without a shareholder vote, but Einhorn challenged that in court as part of an effort to unlock more of the company’s $137 billion cash hoard. U. S. District Judge Richard Sullivan ruled in Einhorn’s favor last week and on Friday granted the motion to withdraw his lawsuit. . . .
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