Greenlight to Get Apple Ruling Before Feb. 27, Judge Says
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A federal judge in New York said he would rule on Greenlight Capital Inc.’s bid to stop Apple Inc. from adopting measures the hedge fund says limit the iPhone-maker’s ability to offer preferred stock before a Feb. 27 shareholder vote.
Greenlight, whose founder, David Einhorn, has been urging Apple to share cash with investors by issuing high-yielding preferred shares, alleged in a lawsuit that the company unfairly lumped a stock restriction with two other corporate governance matters set for a vote by investors on Feb. 27.