WSJ: Apple will respond to Greenlight Capital lawsuit by Wednesday
The pace is picking up in the lawsuit filed against Apple by Greenlight Capital fund manager David Einhorn. The Wall Street Journal reports that 1 Infinite Loop will issue its response to the suit by this Wednesday, February 13, with Greenlight expected to follow up with its comments by Friday in the US Court for the Southern District of New York.
George Riley of O'Melveny & Myers, a longtime Apple attorney and close friend of Steve Jobs, will be arguing the case. Apple is eager to address the suit quickly, before its scheduled shareholder meeting on February 27. The suit is likely to be a top topic during the meeting, as it concerns the belief of Einhorn and other shareholders that Apple should share more of its earnings -- particularly a more than $100 billion cash stockpile -- with investors.
We'll have more on the story after Apple files its response in court.
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