Rebel Apple Investor Tries to Rally Street

NEW YORK (AP) -- A Wall Street maverick who wants Apple (NASDAQ: AAPL  ) to share more of its wealth with investors took his case to other shareholders Thursday, urging them to send management a message by voting against a company proposal at the upcoming annual meeting.

David Einhorn, founder of hedge fund Greenlight Capital, laid out his case for "iPrefs," a class of dividend-bearing preferred stock he wants the company to issue as a way of committing to use its massive profits for the benefit of shareholders.

Apple hands only a small amount of its profits to shareholders. The rest of the money goes in the bank, where Apple's cash hoard amounted to $137 billion at the end of last year.

Einhorn introduced his plan two weeks ago. Apple responded, saying it would consider the proposal.


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