Apple (AAPL) Gets Einhorn Suit Moved Up to Avoid Any 'Distractions' Into Shareholder Meeting

Score one for Apple.

According to reports out Monday night, Apple (Nasdaq: AAPL) won a call from U.S. District Judge Richard Sullivan of the Southern District of New York to move the lawsuit filed by Greenlight Capital's David Einhorn up a few days, Reuters reports today. Einhorn has been seeking that Apple shareholders vote 'no' a proposal to eliminate preferred stock, while proposing a way for Apple to return more money to shareholders.

Apple said the suit would have a "big impact" on its February 27th shareholder meeting.

The request also won support from Einhorn's legal team.

Einhorn didn't like wording that Apple used in Proposal 2, with the preferred charter change bundled in with other corporate-governance-related proposals. His suit claims Apple purposefully bundled the move with two unrelated matters, saying it would be in violation of SEC rules.

Apple last reported a cash pile of $137 billion and said last week that it would be evaluating ideas on what to do with the war chest. Apple ended Monday's session up about one percent, but is lower in late trading.

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