Tuesday, February 12, 2013

Judge accelerates hedge fund's lawsuit against Apple

A federal judge has approved Apple's request to fast-track a lawsuit filed last week by hedge fund manager David Einhorn's Greenlight Capital in an effort to get the electronics giant to share more of its massive cash reserves with investors, according to a CNET report.

U.S. District Judge Richard J. Sullivan for the Southern District of New York granted Apple's request, moving forward the schedule for a hearing on a preliminary injunction sought by Greenlight Capital. Apple had argued that the proposed meeting would have an effect on its shareholder meeting later this month….

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