This Isn't Democracy

Have we reached an era where hedge funds are simply too powerful? Is there such a thing as hedge fund over-activism? Marty Lipton, a defender of so many major companies, acquisitions bar, sure thinks so and I agree with him.

This morning's New York Times has a terrific piece by Andrew Ross Sorkin that covers Lipton's screed, where the chief partner at Wachtell, Lipton, Rosen & Katz, notes that with David Einhorn's lawsuit against Apple's (AAPL) proxy statement, hedge funds have gone too far in their democratic initiatives. After all, Apple's been among the greatest wealth creators of all time, so why pick on it by suing the firm for not doing enough for shareholders; the real essence of Einhorn's claims....597 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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