Greenlight Capital is suing Apple in an effort to get Apple to send back more of its $137 billion cash reserves in the form of shareholder dividends. Apple took this fairly seriously, and issued a press release explaining where they were at on the issue, including the fact that the Cupertino-based company has already given shareholders $10 billion of a planned $45 billion in cash.
Today, however, a judge in the US Court for the Southern District of New York approved a request by both parties in the suit to move the timetable for a response, with Apple planning to file by the end of the day this coming Wednesday, according to a report in the Wall Street Journal.
Back from the holidays, Apple has just filed a preliminary proxy statement with the SEC today in preparation for its annual shareholder meeting in 2013. It’s filled with a lot of insight into the inner workings of our favorite company, and while the biggest news is probably Tim Cook’s remuneration for 2012, there are also other interesting tidbits, including Apple’s resistance to the idea of the appointment of a Board Committe on Human Rights, and the fact that Scott Forstall’s departure lead to a pay raise for the rest of Apple’s executive team.
Now that fiscal 2012 is over, Apple has filed its year-end 10k document to the SEC that contains a trove of financial data. Also contained in the filing is an item that contains information about Scott Forstall’s new role.
Forstall was removed as Senior Vice President of Mobile Software on Monday but will be stay at till 2013 in a special role under Tim Cook too keep him from jumping ship to a competitor. Forstall’s new official title is “Special Advisor to the Chief Executive Officer.”
Could your iPhone 5 be capable of reading your fingerprint?
When Apple purchased AuthenTec back in July for $356 million, the news was a surprise to us all. Unlike most of the company’s movements, this one hadn’t been surrounded by rumor and speculation for months prior to the official announcement, and none of us saw it coming. But now it’s time to take note, because the acquisition could spell exciting things for future iOS devices.
You see, Apple acquired AuthenTec for its 2D fingerprint scanners, which it insisted it needed urgently due to its “product plans and ongoing engineering efforts.” This suggests the Cupertino company is ready to use the technology sooner rather than later — fueling speculation that it will make its debut in the sixth-generation iPhone as the perfect accompaniment to Passbook.
Could one of the executives Steve Jobs handpicked for Apple’s Board of Directors be inept? That’s the question some investors are raising following news that the Securities and Exchange Commission is investigating board member Andrea Jung’s role as CEO of Avon Products.
If you thought Apple was good at pushing its tech gadgets to consumers, that’s nothing compared to some government deals. What’s great about federal contracts, if $1M mistake is made, agencies will cover it up, a government watchdog reports.