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
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