Hedge fund sues Apple over $137bn cash pile

An activist shareholder is demanding US technology giant Apple pay out more of its $137bn (£87bn) cash pile to investors.

The world's largest company has been sitting on a huge sum of cash for many years, and in 2012 that cash pile soared in size, climbing from $98bn last March. US hedge fund manager David Einhorn has now moved to sue the group, telling CNBC that Apple had a "Depression-era" mentality which gave it a tendency to hoard cash and play safe. Einhorn, who owns Green Light Capital, told the television station: "It has sort of a mentality of a depression. In other words, people who have gone through traumas ...