The ruling is in, billionaire David Einhorn gets the green light at Apple (NASDAQ:AAPL). A federal judge has blocked Apple's proposed vote to limit the company's ability to offer preferred stock.
We previously reported the Einhorn wasn't backing down after making his presentation on why Apple should offer preferred stock...see the presentation here.
The judge ruled that it was wrong to roll that proposal vote in with other amendments and that the two should be voted on separately.
So there is still a chance that Einhorn could push Apple in to using some of its $137 billion in cash in the form of preferred stock, or as he calls it iPrefs.