Apple filed a motion Wednesday asking a judge to deny a request from a dissident shareholder to block a vote on a measure that would affect the company's ability to issue a special type of stock.
This month, David Einhorn of Greenlight Capital Inc. went public with a dispute over a proposal included in Apple's annual shareholder proxy. Shareholders are scheduled to vote on the proxy at the company's annual meeting Feb. 27.
Einhorn has requested that Apple issue a special class of stock as a way to distribute more of its $120 billion in cash to shareholders. Apple has said it is studying this request.
However, Proposal No. 2 on the shareholder ballot would change Apple's bylaws, requiring a shareholder vote on any move to issue such stock. Einhorn sued to block a vote on the proposal, saying Apple had unfairly bundled it with two other shareholder reforms to increase its likelihood of passing.