Greenlight Drops Lawsuit Against Apple After Achieving Desired Result

Greenlight Capital has dropped their lawsuit against Apple after the company was granted a preliminary injunction against Apple preventing a bundled vote from taking place at the annual shareholder meeting.

Despite being called a "silly sideshow" by Apple CEO Tim Cook, a judge found that Apple was in violation of SEC rules and that Greenlight Capital faced irreparable harm if they were compelled to vote on the bundled proposal. 

Greenlight Capital wanted to vote against a controversial proposal to limit the company's ability to issue preferred stock; however, Apple had bundled the proposal with others violating SEC regulations.

A Greenlight spokesman told AllThingsD that the suit had served its purpose: “Apple removed the bundled proposal from the shareholder meeting therefore resolving the issue.”