Today, Judge Sullivan granted Greenlight’s motion to preliminarily enjoin the Apple shareholder vote on “Proposal Number No. 2.”  That proposal sought to amend Apple’s Articles of Incorporation to make four changes, including to eliminate Apple’s “blank check” authority to issue preferred stock.  Prior posts on the cases are here.
Continue Reading Judge Sullivan Grants Einhorn’s PI, Blocking Apple Shareholder Vote

Today, Apple responded to Greenlight Capital’s motion for preliminary injunction blocking a shareholder vote on a plan which Greenlight claimed would eliminate Apple’s ability to issue preferred stock.   Greenlight had argued that the plan was “bundled” with other proposed amendments to Apple’s articles of incorporation (as “Proposal No. 2”)  for a single up or down vote, and that “bundling” violates SEC “unbundling” rules. (For the details of Greenlight’s motion, see our previous post.)

Continue Reading UPDATE: Apple Opposes Greenlight PI Motion