Cook, Apple suit Einhorn called a stupid sideshow '

The recent lawsuit filed by David Einhorn of hedge fund Greenlight Capital is a "ridiculous sideshow" and a waste of time and money, Apple CEO Tim Cook said today.

Cook, speaking at a Goldman Sachs conference in San Francisco, questioned Einhorn claims that Apple has a mindset Depression and said the company made "bold and ambitious" paris products, while financially conservative. He noted that Apple has invested approximately $ 10 billion capital spending last year and he will spend a similar amount this year investing in retail stores, distribution, R & D, supply chain and procurement.

"I do not know how a company with a mindset Depression would have done all these things," said Mr. Cook. "We have a little money, but it is a privilege to be in this position. ... It is an incredible privilege for us to be in a position where we can seriously consider returning additional cash to our shareholders. "

He reiterated that the Apple executive team and board are "very active discussions" on how to give more money to investors, and says he will evaluate all options, including those offered by Einhorn.

Greenlight sued Apple last week to block a shareholder proposal that would prevent the electronics giant from the issuance of preferred shares. The hedge fund wants Apple to share more of its cash with investors and believes that the best way to do this is to distribute preferred shares to existing shareholders. Einhorn described Apple as a company, but is phenomenal too careful with his cash. He compared it to his grandmother who did not even leave messages on his answering machine, because she did not get charged for the call.

"He has a kind of mentality depression," Einhorn said in an interview CNBC last week. "In other words, people who have experienced trauma - and Apple has gone through a traumatic couple in history - they sometimes feel they can never have enough money."

On Apple responded by saying that the proposal would not prevent the Preferred Shares and that it would "fully assess" Greenlight plan.

Cook today called the proposal Greenlight "creative", but stated that Greenlight lawsuit to block the proposal No. 2 in the latest proxy statement Apple is just a distraction stupid. Greenlight supports this proposal would prevent the issuance of shares from preferred Apple, but the company says the provision simply protects the rights of shareholders requiring their approval for any issuance of shares.

Apple CEO added that the major problem is not the trial but what Apple will do with his money.

"Frankly, I find it odd that we would end up being prosecuted for doing something that is good for shareholders," Cook said. "I think it's a circus ridiculous, honestly. And my preference would be that everyone on both sides of the issue, with the money they spend on this and donate to a good cause. It would be a much better use of funds. '
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