Wachtell Founder Says Einhorn Is The Problem With Activism

Law360, New York (February 26, 2013, 4:31 PM EST) -- Martin Lipton, founding partner of Wachtell Lipton Rosen & Katz and longtime champion of management and target boards, on Monday ripped David Einhorn's campaign against Apple Inc. as emblematic of the unchecked power of “self-seeking activists.”

Einhorn's lawsuit and public relations push, aimed at forcing Apple to issue preferred stock as a way to share its $137 billion cash pile with investors, is another pursuit of short-term engineered profits at the expense of corporate stewardship, Lipton said.

“The activist hedge fund attack on Apple, in which...
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