Photo: Screenshot from CNBC
Apple’s CEO Tim Cook addressed Greenlight Capital’s CEO David Einhorn battle with his company this morning at the Goldman Sachs tech conference in San Francisco. The tech giant’s CEO called Greenlight’s lawsuit a “silly sideshow.”
Here’s Greenlight’s response that a spokesperson sent to CNBC, Scott Wapner reports:
“If Apple thinks the lawsuit is a waste of resources, it could simply end the matter by complying with existing law and filing a new proxy that unbundles the proposed changes to the charter so that the shareholders can express their views on each matter separately.”
Last week, Einhorn’s Greenlight took aim at Apple’s massive cash reserves it has on its balance sheet last week saying it has a “Depression era mentality.”
Greenlight said it’s going to sue Apple in New York federal court to prevent a new proposal to prevent the issuance of preferred stock.
Shares of Apple were last trading down more than 2.4%.