Wachtell Doesn't Know Best For Boards, Harvard Prof Says

Law360, Los Angeles (April 9, 2013, 4:49 PM EDT) -- A Harvard Law School professor on Tuesday fired back at Wachtell Lipton Rosen & Katz partners who accused him and a clinical program he directs of damaging U.S. economic prosperity by successfully persuading Standard & Poor's 500 Index company shareholders to declassify their boards of directors.

Professor Lucian Bebchuk and the Shareholder Rights Project, which operates at the school, recently persuaded 42 companies — including McDonald's Corp., Moody's Corp. and WellPoint Inc. — to replace their staggered boards with declassified boards in an effort to empower shareholders...
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