Apple CEO Tim Cook calls a shareholder lawsuit against the company a "silly sideshow" but says he is open to looking at the shareholder's proposals for sharing more cash with investors.
Last week, investor David Einhorn sued Apple Inc., saying a proposal slated for a vote at the company's annual meeting in two weeks would make it more difficult to enact his plan to reward shareholders by distributing a new class of shares.
Cook says the proposal puts more power in the hands of shareholders, making it difficult to understand why a shareholder would fight it.
Repeating previous statements, Cook says the company is "seriously" looking at ways to hand out more cash to shareholders.
Cook was speaking at a Goldman Sachs investor conference in San Francisco.
- Investment & Company Information