Greenlight Capital has dropped its lawsuit against Apple, according to All Things Digital. The suit, brought by Greenlight boss David Einhorn was launched after Apple published a proxy proposal that would have required shareholders to approve the issuing of preference stock.
Apple dropped the proposal from its annual shareholder meeting, held on Wednesday, after a judge ruled that it had been ‘impermissibly bundled’ with two other proposals.
Tim Cook had previousl dismissed the suit as a ‘silly sideshow’ and said he wished ‘people involved in this lawsuit would take this money and donate it to a good cause.’
According to All Things Digital, ‘a Greenlight spokesman said the suit had served its purpose: “Apple removed the bundled proposal from the shareholder meeting, therefore resolving the issue.”’