Earlier this month, Einhorn proposed a plan that would allow Apple to distribute some of its $140 billion cash load to shareholders. He then sued the company for "Proposal 2" in Apple's proxy statement, which essentially only allows Apple to issue preferred stock with the approval of shareholders. ( Read More : Hedge Fund Greenlight May Succeed in Case Against Apple: Judge ) In the call Thursday, Einhorn said that Apple's strategy of stockpiling cash is flawed and that his plan for Apple "is not complicated."