Wednesday, February 20, 2013

Apple Lawsuit: Einhorn’s odds are good

A Manhattan federal court judge said he likes hedge-fund honcho David Einhorn’s odds of winning a lawsuit against Apple over a governance proposal — but, according to the NY Post, he stopped short of saying he will block shareholders from voting on the proposed change.

“I do think the likelihood of success is in favor of Greenlight,” Judge Richard Sullivan said at a hearing yesterday, speaking of the merits of the entire case. 
Sullivan said he would rule before the Feb. 27 vote. The judge said he will decide the narrower issue of blocking the vote, in part, on whether or not Einhorn’s Greenlight Capital hedge fund would be irreparably harmed if the vote at Apple’s annual shareholder meeting were to take place.

Earlier this month, Einhorn sued Apple for “bundling” three shareholder proposals…

No comments:

Post a Comment