Bandera Partners Issues Letter to Luby’s Stockholders
Luby's, Inc. (LUB)
US:NYSE Investor Relations:
lubysinc.com/investors
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- Bandera Partners LLC, a significant stockholder of Luby’s Inc. (NYSE: LUB) issued the following letter to Luby’s stockholders. January 18, 2019 Dear Fellow Luby’s Stockholders, “Just over 10 years ago, when Luby’s was engaged in a tight proxy contest with an activist investor, the incumbent board instituted some long overdue governance changes to swing votes back in their favor. Luby’s incumbent board narrowly won that contest, and the stock has since fallen over 80% under its watch. Don’t let them fool you twice with their latest round of promises. Today, in response to a wave of support for Bandera's irrefutable case that the Board has grossly underperformed since that last proxy contest, Luby’s is proposing a new round of changes and sweetened promises, including swapping in new directors, hand-picked by the underperforming incumbent board, AFTE
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