Rebel Apple investor tries to rally Street

February 22, 2013 by Peter Svensson

(AP)—A Wall Street maverick who wants Apple to share more of its wealth with investors took his case to other shareholders Thursday, urging them to send management a message by voting against a company proposal at the upcoming annual meeting.

David Einhorn, founder of Greenlight Capital, laid out his case for "iPrefs," a class of -bearing preferred stock he wants the company to issue as a way of committing to use its massive profits for the benefit of shareholders.

Apple hands only a small amount of its profits to shareholders. The rest of the money goes in the bank, where Apple's cash hoard amounted to $137 billion at the end of last year.

Einhorn introduced his plan two weeks ago. Apple responded, saying it would consider the proposal.

Explore further: Apple CEO Jobs favors flexibility of cash hoard

0 shares

Related Stories

Apple CEO Jobs favors flexibility of cash hoard

February 25, 2010

(AP) -- Apple Inc., buoyed by the success of the iPhones, iPods and computers it churns out to breathless buyers, could give some of its $25 billion in cash back to shareholders. But CEO Steve Jobs said Thursday that he ...

Apple CEO hints company will part with some cash

February 23, 2012

(AP) -- Apple CEO Tim Cook believes the world's most valuable company has more money than it needs. His next challenge is to figure out whether Apple should break from the cash-hoarding ways of his predecessor, the late ...

Greenlight sues Apple, with eye on cash pile

February 7, 2013

US hedge fund Greenlight Capital Thursday filed suit against Apple as it boosted pressure on the tech giant to unleash to shareholders the value of its huge capital stockpile.

Apple CEO Cook says lawsuit is 'silly sideshow'

February 12, 2013

Apple CEO Tim Cook calls a shareholder lawsuit against the company a "silly sideshow" but says he is open to looking at the shareholder's proposals for sharing more cash with investors.

Recommended for you

Sydney makes its mark with electronic paper traffic signs

July 28, 2015

Visionect, which is in the business of helping companies build electronic paper display products, announced that Sydney has launched e-paper traffic signs. The traffic signage integrates displays from US manufacturer E Ink ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.