Still Running Away from the Evidence: A Reply to Wachtell Lipton’s Review of Empirical Work. Lucian Bebchuk, March 5, 2014, Opinion. “In a 17-page memorandum issued by the law firm of Wachtell Lipton (Wachtell), Empiricism and Experience; Activism and Short-Termism; the Real World of Business, the firm’s founder Martin Lipton put forward new criticism of our empirical study, The Long-Term Effects of Hedge Fund Activism. Lipton’s critique is based on a review of a large number of works which, he asserts, back up empirically the view that our study questions…” Link verified June 19, 2014