Tuesday, March 31, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Intel Releases New Braswell SoCs
WD's My Passport X Delivers 2 TB of Storage for Xbox One and PC Gamers
Google To Use SSDs From Samsung: report
Microsoft Introduces The Surface 3
Samsung Now Offers New Lineup of 3-bit V-NAND Based 850 EVO SSDs for Ultrathin PCs
Samsung, LG End Legal Disputes
IBM Connects Internet of Things to the Enterprise
Project Spartan Web Browser Included In Latest Windows 10 Build
Active Discussions
how to copy and move data files to dvd-rw
cdrw trouble
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
 Home > News > General Computing > Apple S...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, February 07, 2013
Apple Sued by Shareholder


Greenlight Capital, an Apple shareholder, has sued Apple in a New York federal court over the company's proposal to eliminate preferred stock.

Greenlight is a shareholder since 2010 with 1.3 million Apple shares worth nearly $600 million.

Apple said in its proxy statement filed with the Securities and Exchange Commission that its board does not plan to issue preferred stock in the future and believes it is "appropriate" to eliminate the possibility from its charter.

Greenlight is dissatisfied with Apple's capital allocation strategy. The company believes Apple's proposal to eliminate preferred stock would close down one avenue for Apple to reward shareholders with more cash.

David Einhorn, who heads Greenlight Capital, said the proposal would close down one avenue for Apple to reward shareholders with more cash.

"Apple has $145 per share of cash on its balance sheet. As a shareholder, this is your money," Einhorn said in a letter to Apple's shareholders.

Responding to Greenlight Capital's proposal, Apple said it would thoroughly evaluate Greenlight Capital's current proposal to issue some form of preferred stock.

"We welcome Greenlight's views and the views of all of our shareholders," Apple said.

Apple added that its proposal includes some changes but they would not prevent the issuance of preferred stock.

"We remain committed to having an ongoing dialogue with our shareholders to get perspectives around return of capital and driving shareholder value," Apple added.

Most corporations don't hoard cash the way Apple does. They keep enough on hand for immediate needs, and either invest the rest in their operations or hand it out to shareholders in the form of dividends or stock buybacks.

By early last year, Apple said its cash balance had built to a point beyond what the company needed to run its business, so the cmompany announced a plan to return $45 billion to shareholders over three years. As of next week Apple will have executed $10 billion of that plan.


Previous
Next
Blackberry 10 Won't Reach Japan        All News        EU Pushes Cyber Security Plan
Sony To Bring Its Tablets Into Classroms     General Computing News      EU Pushes Cyber Security Plan

Get RSS feed Easy Print E-Mail this Message

Related News
Apple Offers Trade-in Program For Android, Blackberry And Windows Phones
Apple Rumored To Release New iPhones Later This Year
New Apple TV hardware Coming This Summer: report
Apple To Launch Online TV Service: report
Outage Hit Apple Services
CIA Was Trying To Hack Apple iPhones: report
Apps Remain The Key To Success For Apple Watch
Apple iOS 8.2 Now Avaialable For Download
Apple Details Apple Watch, ResearchKit, Unveils New Macbook, Updates MacBook Pro And MacBook Air
Apple Watch: What We Know So Far
Apple Allowed App Developers Fine-tune Apps Before Watch Debut
Larger iPad Production Pushed Back For September

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .