14 DAY TRIAL // David Einhorn's Greenlight Capital, which sued Apple over refusing to open up more stock value to shareholders, has dropped all charges against the Mac maker after Apple removed a bundled proposal in its proxy.
The WSJ-owned MarketWatch reports that “Greenlight Capital has dropped its lawsuit against Apple Inc. after the company withdrew a controversial proposal from its Wednesday shareholder meeting.”
David Einhorn reportedly withdrew his case against the Cupertino giant with a simple filing with the U.S. District Court for the Southern District of New York this Thursday.
A Greenlight spokesman confirms the news to All Things D, stating that the suit has served its goal, in that “Apple removed the bundled proposal from the shareholder meeting, therefore resolving the issue.”
Prior to removing the aforementioned proposal from his company’s proxy, CEO Tim Cook had said, “We wish people involved in this lawsuit would take this money and donate it to a good cause. This is a waste of money for all involved. It’s a silly sideshow.”