Carl Icahn: We Feel Apple's Board is Doing a Great Disservice to Shareholders

Carl Icahn: We Feel Apple's Board is Doing a Great Disservice to Shareholders

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Carl Icahn has just tweeted criticizing the board of Apple and accusing them of doing a great disservice to shareholders by not increasing the company's share buyback program.

Icahn said, "We feel $APPL board is doing great disservice to shareholders by not having markedly increased its buyback. In-depth letter to follow soon."

In October, investor Carl Icahn has posted an open letter to Apple CEO Tim Cook urging him to increase Apple's stock buyback to $150 billion. Icahn also submitted a shareholder proposal to have Apple buyback $50 billion worth of shares during fiscal 2014. In Apple's Preliminary Proxy Statement it recommends that shareholders vote against the proposal.

Icahn also noted that he has increased his position in Apple.

"Since tweeting about our large position in $AAPL on Aug 13, when the stock was 468 per share, we’ve kept buying shares of this ‘no brainer.’"

"Having purchased $500 million more $AAPL shares in the last two weeks, our investment has crossed the $3 billion mark yesterday."

We'll let you know when Icahn posts his in-depth letter on the matter.

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Carl Icahn: We Feel Apple's Board is Doing a Great Disservice to Shareholders
Za - January 23, 2014 at 1:54am
Carl sounds like a whiny, money-hungry, control freak. Apple needs another visionary leader running the show, not Carl.
Stig - January 23, 2014 at 12:03am
So don't invest of you don't like how the company is run..... Stupid activist trying to push around different companies.
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