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Greenlight sues Apple, with eye on cash pile

Apple said Thursday it is weighing ways to give shareholders more of its huge cash stockpile, after hedge fund Greenlight Capital filed suit in an effort to press it in that direction. Greenlight sued the maker of iPhones and iPads to block a shareholder vote that includes a management-backed proposal to make it impossible for the Apple board to issue preferred stock without shareholder approval. Greenlight said in a letter to shareholders that it wants Apple to issue "perpetual preferred stock" to distribute a bounty from the $137 billion in cash the company is holding.

Greenlight sues Apple, with eye on cash pile

US hedge fund Greenlight Capital filed suit against Apple Thursday as part of efforts to compel the tech giant to give shareholders more of its huge cash stockpile. Apple responded by saying it has been "in active discussions about returning additional cash to shareholders." Greenlight sued the maker of iPhones and iPads to block a shareholder vote that includes a proposal supported by management to make it impossible for the Apple board to decide to issue preferred stock without shareholder approval.

Greenlight sues Apple, with eye on cash pile

US hedge fund Greenlight Capital filed suit against Apple Thursday as part of efforts to compel the tech giant to give shareholders more of its huge cash stockpile. Apple responded by saying it has been "in active discussions about returning additional cash to shareholders." Greenlight sued the maker of iPhones and iPads to block a shareholder vote that includes a proposal supported by management to make it impossible for the Apple board to decide to issue preferred stock without shareholder approval.
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