NEW YORK: A U.S. judge made no immediate ruling Tuesday on hedge fund star David Einhorn's legal attack on Apple Inc, but said the hedge fund had shown a "likelihood of success" if the case goes forward.
U.S. District Judge Richard Sullivan in New York reserved decision on hedge fund Greenlight Capital's request to block a February 27 shareholder vote on one of Apple's shareholder proposals. That proposal would eliminate the iPhone maker's ability to issue preferred stock without investor approval.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!