Electronista

Mobile News   Apple  
updated 01:43 AM EST 02.22.13
Einhorn takes case for 'iPrefs' directly to investors
Greenlight Capital CEO David Einhorn, who is currently suing Apple to prevent the company from proposing a stock-authorization scheme before its own stockholders for a vote next week, took his case directly to investors in an unusual hour-long conference call. Einhorn, who believes Apple should disperse its large -- and growing -- cash reserves to investors much faster than it is currently doing, dismissed the idea of Apple needing large reserves to ride out economic downturns or fund innovation, and instead pushed a preferred-stock plan he now calls "iPrefs."