Monday, January 26, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Dell Launches Malware Protection and Detection Service
Motorola Returns To The Chinese Market with Three New Phones
LG Display Buys Rights To Use New OLED Technology
Turkish Court Orders Facebook to Remove Pages Insulting Mohammad
Malaysia Airlines And Russian Dating Sites Topface Websites Hacked
Logitech Introduces Portable Videoconferencing Solution
NVIDIA Comments On GeForce GTX 970 Memory Allocation Reports
Google Comments On Lack Of Security Patches On Older Android Phones
Active Discussions
Sound card for my Laptop
full screen wide screen
Hi
About the restriction problem of chapter quantity in DVD
Booktype utilities for LiteON and OEM DVD Recorders
downgrade a nero vision 5 project to nero vision 2
what is the minimum burning speed
GSA-4163B and bitsetting
 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
Samsung and Apple Together Consumed 17 Percent of Total Semiconductor Demand in 2014
Samsung Led The Smartphone Market in 2014, TrendForce Reports
Apple May Use Its Own Chips In Future Macs
Apple, Ericsson In Courts Over LTE Patents
Apple, Google To End Lawsuit Over Poaching
Apple May Take On GoPro With Action Cameras
Quanta Accelerates Production Of New 12-inch MacBook Air
Apple Patent Describes Flexible iPhone Concept
Apple Starts Selling Unlocked iPhone 6 and 6 Plus
Apple Sued Over Limited Storage Space
Apple Offers Automated Security Update to Macs
Apple Responds To BBC's Allegations Over Working Conditions In Chinese Factory

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 .