Legal Giants Wage War Over Role Of Activist Investors (A.K.A. Hedge Funds)

In one corner there is the brilliant octogenarian Martin Lipton, founder of one of the nation's most powerful and influential law firms, Wachtel, Lipton, which made it's name in the giant merger and acquisition battles of the past 4 decades. I guess Lipton has few hedge fund clients because he recently charged the activist hedge funds with "preying on American companies to create short term increases in the market price of heir stock at the expense of long term value."