Wachtell, Lipton, Rosen & Katz

{{Short description|Law firm}}

{{Promotional|date=March 2022}}

{{Infobox law firm

| name = Wachtell, Lipton, Rosen & Katz

| logo = WLRK-Logo-Left-Aligned-.jpg

| headquarters = CBS Building
New York City, New York, U.S.

| num_offices = 1

| num_attorneys = 265

| practice_areas = General practice

| revenue = {{US$|1.13 billion|link=yes}} (2023){{cite web|url = https://www.law.com/law-firm-profile/?id=318&name=Wachtell-Lipton| title = Wachtell Lipton |work=Law.com}}

| profit_per_equity_partner = {{US$|8.51 million}} (2023)

| date_founded = {{Start date and age|1965}}

| founders = {{Unbulleted list|Herbert Wachtell|Jerry Kern}}

| company_type = General partnership

| homepage = {{URL|http://www.wlrk.com/}}

}}

Wachtell, Lipton, Rosen & Katz (known as Wachtell Lipton or Wachtell) is an American white-shoe law firm in New York City. Wachtell has only a single, Manhattan office, making it one of the smallest firms in the AmLaw 100.

History

The firm was founded in 1965 by Herbert Wachtell and Jerry Kern, who were shortly afterwards joined by Martin Lipton, Leonard Rosen, and George Katz.{{cite book |last=Cole |first=Brett |year=2008 |chapter=Godfathers—Flom and Lipton |title=M&A Titans: The Pioneers Who Shaped Wall Street's Mergers and Acquisitions Industry |publisher=Wiley |isbn=9780470126899 }} The four named partners met at New York University School of Law where they were editors on the New York University Law Review together.{{Cite web|url=https://www.law.nyu.edu/giving/campaign/supporters/wachtell-lipton-rosen-katz|title=Wachtell, Lipton, Rosen & Katz {{!}} NYU School of Law|website=www.law.nyu.edu|access-date=2019-10-21}} The firm rose to prominence on Wall Street when many brokers and investment bankers were launching small firms, but received little attention from established white-shoe law firms, such as Sullivan & Cromwell, Simpson Thacher & Bartlett, and Cravath, Swaine & Moore.

One of the founding partners, Martin Lipton, invented the so-called "poison pill defense" during the 1980s, to foil hostile takeovers. Working both sides of mergers and acquisitions, Wachtell Lipton has represented blue-chip clients such as AT&T, Pfizer, and JP Morgan Chase.[http://www.wlrk.com/Corporate/ Summary of corporate practice]. It has had key roles in the resurrection of Chrysler in the 1970s, the acquisition of Getty Oil by Texaco, and the negotiation of the master development agreement for the World Trade Center after the September 11, 2001 attacks.{{Cite web|url=https://www.vault.com/company-profiles/law/wachtell-lipton-rosen-katz|title=Wachtell, Lipton, Rosen & Katz {{!}} Company Profile {{!}} Vault.com|website=Vault|language=en|access-date=2019-10-21}} The firm is also known for its business litigation, and has represented clients in many of the precedent-setting Delaware corporate governance cases.See, e.g., Moran v. Household Int'l, Inc., 500 A.2d 1346 (Del. 1985); Paramount Commc'ns, Inc. v. Time Inc., 571 A.2d 1140 (Del. 1989); Air Prods. & Chemicals, Inc. v. Airgas, Inc., 16 A.3d 48 (Del. Ch. 2011).

In November 2023, amid a wave of pro-Palestine protests at elite U.S. law schools, Wachtell, Lipton, Rosen & Katz was among a group of major law firms who sent a letter to top law school deans warning them that an escalation in such incidents, which the letter called antisemitic, would have corporate hiring consequences. The letter said, "we look to you to ensure your students who hope to join our firms after graduation are prepared to be an active part of workplace communities that have zero tolerance policies for any form of discrimination or harassment, much less the kind that has been taking place on some law school campuses."{{cite news |last1=Sorkin |first1=Andrew Ross |last2=Mattu |first2=Ravi |last3=Warner |first3=Bernhard |last4=Kessler |first4=Sarah |last5=Merced |first5=Michael J. de la |last6=Hirsch |first6=Lauren |last7=Livni |first7=Ephrat |title=Law Firms Warn Universities About Antisemitism on Campus |url=https://www.nytimes.com/2023/11/02/business/dealbook/law-firms-schools-antisemitism.html |access-date=2 November 2023 |work=The New York Times |date=2 November 2023}} The letter was criticized by a coalition of Muslim bar associations, which accused the firms of contributing to Islamophobia, a chilling effect of free speech and Pro-Palestine speech, and a climate of fear.{{Cite web |last=Egan |first=Matt |date=2023-11-14 |title=Law firms accused of fueling Islamophobia, chilling free speech {{!}} CNN Business |url=https://www.cnn.com/2023/11/14/business/islamophobia-antisemitism-law-firms/index.html#:~:text=The%20members%20of%20the%20Muslim,their%20students%20would%20face%20consequences. |access-date=2025-04-15 |website=CNN |language=en}}

Notable alumni

See also

References