Apple CEO Cook says lawsuit is 'silly sideshow'

February 12th, 2013 by Peter Svensson in Technology / Business

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.

Last week, investor David Einhorn sued Apple Inc., saying a proposal slated for a vote at the company's annual meeting in two weeks would make it more difficult to enact his plan to reward shareholders by distributing a new class of shares.

Cook says the proposal puts more power in the hands of shareholders, making it difficult to understand why a would fight it.

Repeating previous statements, Cook says the company is "seriously" looking at ways to hand out more cash to shareholders.

Cook was speaking at a Goldman Sachs investor conference in San Francisco.

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"Apple CEO Cook says lawsuit is 'silly sideshow'." February 12th, 2013. http://phys.org/news/2013-02-apple-ceo-cook-lawsuit-silly.html