Activist Battle Turns Academic

New York lawyers and a group of academics square off over whether activist investors should be loathed or loved.

It’s no secret that activist hedge funds have been pretty busy of late. The perennial question, of course, is whether their campaigns boost shareholder value.

As you would expect, it all depends upon who is judging. In recent weeks two passionate partisans on both sides of the issue have been waging a war of analysis: Harvard Law School professor Lucian A.

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