Two major developments this week in separate, high profile Apple lawsuits. It's like going back in time to tell the court "my bad." Step into our DeLorean today and we'll travel back in time to revisit some courtroom drama that is back in the news again.
Hearings began this week in David Einhorn's lawsuit against Apple, and right away the rockstar hedge-fund manager got the court to lean a little in his favor. This case is going to be fast and furious, particularly with an Apple event just a few days away that Einhorn would like to see postponed. Is Einhorn just playing the role of greedy investor, trying to puppet-string the stock market with a slick PR campaign? Or does this lawsuit actually have some legitimate legs?
A few weeks ago, we mentioned the growing discontent from some Apple investors, and the lurking potential for legal action. Well, last Thursday one of Cupertino's high-profile investors did just that, and launched a lawsuit against Apple in Federal District Court in Manhattan. A few days ago, Tim Cook responded like a parent answering a child who won't stop asking for a pony. Nobody likes to get swept into a high-profile lawsuit, do they?
Just last week, we reported on the lawsuit raised by Greenlight Capital's David Einhorn. Apple quickly responded to the kerfuffle, essentially calling Greenlight's accusations bogus on a number of grounds. Today, Apple CEO TIm Cook has publicly given his take on the matter, and it appears he's less than amused.
David Einhorn's Greenlight Capital, a shareholder in Apple, filed a federal lawsuit against Cupertino today in response to a proposal set for a shareholder vote on February 27. According to Einhorn, Apple is hoarding large amounts of cash. Apple, as you might have guessed, disagrees with many of the statements made by Greenlight.