Apple boss calls Einhorn lawsuit a 'silly sideshow'

Apple chief executive Tim Cook said the board is carefully considering David Einhorn’s proposal for the company to issue preferred stock and return more cash to investors, but he called a lawsuit brought by the star hedge fund manager against Apple a “silly sideshow.”

Waving aside Einhorn’s assertion that Apple is clinging to a “Depression-era” mentality, Cook said on Tuesday the company’s board is in “very active discussions” on how to dole out more of its US$137 billion hoard of cash and marketable securities.

via Business feed http://www.scmp.com/business/companies/article/1149217/apple-boss-calls-einhorn-lawsuit-silly-sideshow