Einhorn drops Apple lawsuit, ends high-profile challenge Hedge fund manager David Einhorn's Greenlight Capital has dropped its lawsuit against Apple Inc after winning a battle to stop the iPhone maker from a shareholder vote on a proposal to abolish its ability to issue preferred shares at its discretion. The lawsuit's withdrawal, disclosed in a court ruling, closed the chapter on what was the strongest challenge by an Apple investor in years. Einhorn, leading calls on Wall Street for Apple to share more of its $137-billion in cash, wanted it to issue what he called "iPrefs," or preferred shares with a perpetual 4 per cent dividend. The hedge fund manager argued if the proposal had passed, it would have complicated future attempts to issue such securities. Greenlight won an injunction last week to halt a shareholder vote on the matter.