Business

Hedge Fund sues Apple for larger payout

Reuters) – David Einhorn wants Apple to “think different” … about its cash.

The hedge fund manager’s Greenlight Capital sued Apple Inc on Thursday, saying the company should give stockholders a bigger share of its huge cash pile.

Einhorn, a well-known short seller, is long on Apple shares. In a television interview on Thursday, he said that while he admires the company, it has a “cash problem” that it needs to fix by giving away perpetual preferred stock with a 4 percent yield.

 

Full Story: Greenlight’s Einhorn sues Apple, seeks bigger payout