Monday Apple Rumors: Einhorn Wins Court Ruling on Share Vote

by Christopher Freeburn | February 25, 2013 1:44 pm

[1]Here are your Apple rumors[2] and AAPL news items for today:

No Vote: Hedge fund Greenlight Capital won a preliminary injunction[3] preventing a shareholder vote on a proposal to restrict Apple‘s (NASDAQ:AAPL[4]) ability to issue preferred shares, Reuters noted. Greenlight Capital, run by David Einhorn, sued Apple earlier this month in an effort to get the company to return more of its surplus cash to shareholders. U.S. District Judge Richard Sullivan on Friday sided with Greenlight, ruling that Apple had improperly bundled the proposal with two unrelated measures in a single proposal. The judge found that Greenlight, which backed the unrelated proposals, would face “irreparable harm” should the proposal be voted on. An Apple spokesman said the company was “disappointed” with the ruling. CALPERS, a major institutional shareholder, issued a statement calling on Apple to reintroduce the preferred share proposal.

Mini Rival: Apple’s iPad Mini just got some competition from an unexpected source[5], Business Insider notes. Hewlett-Packard (NYSE:HPQ[6]) has unveiled a seven-inch tablet running Google‘s (NASDAQ:GOOG[7]) Android operating system and priced at $169. The Slate 7 is aimed at the iPad Mini and Amazon‘s (NASDAQ:AMZN[8]) Kindle Fire. HP, which exited tablet market last year after the failure of its WebOS tablets, has likely priced the Slate 7 well below rival tablets in an attempts to attract consumer attention as it tries to re-enter the tablet market. The adoption of Android as the new tablet’s operating system is also a break with its long-time OS partner Microsoft (NASDAQ:MSFT[9]), which launched the tablet-friendly Windows 8 OS last year.

Head Analysis: The National Football League (NFL) will use iPads to assist with on-field assessments of players after hits sustained during games and practices[10], AppleInsider notes. The NFL will give teams an iPad app that can diagnose concussions that result from high-powered collisions between players. The app was unveiled at the NFL’s annual scouting combine on Friday. The app allows team doctors to conduct a series of tests and compare the results to a player’s pre-collision responses to determine if the player has sustained a concussion. Brain damage resulting from repeated head impacts has become a serious issue for the NFL after a string of high-profile deaths of former players.

For more about the company, check out our previous Apple Rumors[11] stories.

Source URL: https://investorplace.com/2013/02/monday-apple-rumors-einhorn-wins-court-ruling-on-share-vote/

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