Friday, February 22, 2013

Reuters: Technology News: Einhorn wins ruling against Apple in stock fight

Reuters: Technology News
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Einhorn wins ruling against Apple in stock fight
Feb 22nd 2013, 21:30

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David Einhorn, president of Greenlight Capital, speaks during the Sohn Investment Conference in New York, May 16, 2012. REUTERS/Eduardo Munoz

David Einhorn, president of Greenlight Capital, speaks during the Sohn Investment Conference in New York, May 16, 2012.

Credit: Reuters/Eduardo Munoz

NEW YORK | Fri Feb 22, 2013 3:42pm EST

NEW YORK (Reuters) - A judge handed hedge fund star David Einhorn a victory in his court battle with Apple Inc on Friday, blocking the iPhone maker from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.

U.S. District Judge Richard Sullivan in Manhattan granted a motion by Einhorn's Greenlight Capital for a preliminary injunction stopping the vote on that proposal. The vote was scheduled for February 27 as part of the company's annual stockholders' meeting.

(Reporting By Nate Raymond in New York; Editing by Martha Graybow, Gary Hill)

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