Waving aside Einhorn's assertion that Apple is clinging to a "Depression-era" mentality, Cook said on Tuesday the company's board is in "very active discussions" on how to dole out more of its US$137bil (RM411bil) hoard of cash and marketable securities.
Einhorn and his Greenlight Capital are suing Apple as part of a wider effort to get the iPhone maker to share more of its cash pile, one of the largest among technology companies. They are challenging "Proposal 2" in Apple's proxy statement, which would abolish a system for issuing preferred stock at its discretion.
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