Thursday, 18 December 2014
Last updated 1 min ago
Mar 4 2013 | 2:53pm ET
Having forced Apple Inc. to drop a proxy proposal it opposed, Greenlight Capital is laying down its arms.
The hedge fund last week dropped its lawsuit against the company, following Apple's annual shareholder meeting. "Apple removed the bundled proposal from the shareholder meeting, therefore resolving the issue," a Greenlight spokesman said.
Greenlight had sued Apple to prevent a vote on a proposal that would have required shareholder approval for issuance of preferred shares; the hedge fund, which opposed the proposal, argued that Apple had improperly bundled it with two other corporate governance matters, and a federal judge agreed last month. Apple held its annual meeting on Wednesday.
Greenlight wants Apple to issue preferred shares as a way of returning some of its $137 billion cash horde to investors.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.