Judge Grants David Einhorn Preliminary Injunction Against Apple

Posted February 22, 2013 at 9:19pm by iClarified | Please help us and submit a translation by clicking here | 5924 views

A judge has granted David Einhorn of Greenlight Capital a preliminary injunction against Apple stopping a vote a shareholder vote scheduled for February 27th, reports Reuters.

U.S. District Judge Richard Sullivan in Manhattan granted a motion by Einhorn's Greenlight Capital for a preliminary injunction stopping the vote on that proposal. The vote was scheduled for Feb. 27 as part of the company's annual stockholders' meeting.

Einhorn filed suit against Apple to prevent the company from bundling several proposals into one vote including a controversial one to limit the company's ability to issue preferred stock.

Update:
AllThingsD has the ruling:

“Having carefully reviewed the record before it, the Court finds that Greenlight and Gralnick face irreparable harm if they are compelled to vote on Proposal No. 2 in violation of SEC rules. By voting either against the slate of amendments and thus against two amendments they support, or for the amendments – including the offending “blank check” provision that they oppose – Greenlight and Gralnick will have been forced to vote on a package of items for which they did not have a single position, and denied the right to inform management of their views on specific items.”

Read More


Share
Add Comment
sidewinder - February 23, 2013 at 4:04pm
That's it. Einhorn is Finkle. Finkle is Einhorn. Einhorn is a man. Oh my god! Einhorn is a man??!!!!! blaaaarrrrrggghhh!!!!
Fintan - February 22, 2013 at 11:04pm
Do I care? Very big space with not much to say.
thevmax - February 23, 2013 at 2:37pm
What a small mind you have.......
Follow iClarified
Apple Updates App Store Review Guidelines Ahead of iOS 8
Apple has updated its App Store Review Guidel...
Apple to Partner With Nordstrom on New Payments Platform?
Nordstrom is reportedly in talks with Apple t...
Apple Seeds iCloud for Windows Beta with iCloud Drive Support to AppleSeed Members
Office for iPad Now Supports Monthly Subscriptions
Microsoft has announced that Office for iPad ...
Amazon Cloud Drive Photos App Now Lets You View Metadata, Rename Albums, Stream via AirPlay