NEW YORK/SAN FRANCISCO: Apple Inc on Thursday confronted its first major challenge from an activist shareholder in years as hedge fund manager David Einhorn's Greenlight Capital filed suit against the company and demanded that it dole out a bigger piece of its $137 billion cash pile to investors.
The unusual move comes as the world's largest technology company grapples with a tumbling share price, mounting competition in the smartphone and tablet markets, and concerns about its ability to produce new breakthrough products.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
