Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Apple CEO Tim Cook speaks to the audience. (ROBERT GALBRAITH/REUTERS)
Apple CEO Tim Cook speaks to the audience. (ROBERT GALBRAITH/REUTERS)

Apple CEO dismisses Einhorn lawsuit ‘sideshow’ Add to ...

Apple Inc. CEO Tim Cook called David Einhorn’s lawsuit against his company a “sideshow” but said on Tuesday the board is carefully considering the star hedge fund manager’s proposal to issue preferred stock, calling it “creative.”

Cook, waving off claims that Apple is clinging to a “Depression-era” mentality, told investors at Goldman Sachs’ annual technology industry conference in San Francisco that the board is in “very active discussions” on how to share more of its $137-billion hoard of cash and marketable securities.

More Related to this Story

David Einhorn is suing Apple as part of a wider effort to get Apple to share more of its cash pile, one of the largest hoards in the technology industry. Einhorn wants the iPhone maker to issue perpetual preferred shares that pay dividends to existing shareholders, arguing that such a vehicle would be superior to dividends or share buybacks.

 

Apple

5 Year Performance

Add AAPL-Q to your Watchlist Chart for AAPL-Q
AAPL-Q 524.94 5.93 1.143 %

View interactive chart

Security Price Change
AAPL-Q Apple 524.94 5.93
1.143 %
Add to watchlist
Live Discussion of AAPL on StockTwits
More Discussion on AAPL-Q

More Related to this Story

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories