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Einhorn could win Apple suit
A US judge said yesterday that David Einhorn’s hedge fund had shown a “likelihood of success” if his legal attack against Apple goes forward, though he made no immediate ruling on whether to block next week’s shareholder vote on a proxy proposal.
Einhorn wants to stop a vote on one of Apple’s shareholder proposals, which would eliminate the iPhone maker’s ability to issue preferred stock without investor approval. He wants the firm to return more cash to shareholders.