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Hedge Fund Rule's Demise: Wachtell Laments

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The lawfirm Wachtell, Lipton Rosen & Katz has long been on the forefront of helping corporate managers protect themselves from shareholders. They proudly claim to have invented the poison pill, that all-but-foolproof shield against hostile takeovers. Lately, the firm has been at the forefront of advising corporate America on how to protect themselves against activiest hedge fund managers.
So it comes as no surprise that the firm has issued a client memo lamenting the demise of the SEC rule requiring hedge fund managers to register as investment advisors. What is a bit surprising, is that none of Wachtell’s lawyers have given campaign contributions to Congressman Barney Frank.
Come on, fellas. This guy is writing the new regulation you want so bad. Get your checks books out. This is America. You get what you pay for!
More on Wachtell's campaign against activist Hedge Funds from around the internet:
Why Public Companies Should Care About Hedge Fund Rules [DealBook]
Wachtell’s Martin Lipton Pens Another “Attack of the Killer Hedge Funds” Memo [WSJ's LawBlog]
Wachtell Lipton on Shareholder Activists and M&A [WSJ's LawBlog]