Luby's Issues Statement On Bandera Partners' Nomination Of Directors
Luby's, Inc. (LUB)
US:NYSE Investor Relations:
lubysinc.com/investors
Company Research
Source: PR Newswire
HOUSTON, Nov. 30, 2018 /PRNewswire/ -- Luby's, Inc. (NYSE: LUB) ("Luby's") today confirmed that it has received notice on behalf of Bandera Partners LLC and certain of its affiliates ("Bandera") that it intends to nominate up to six candidates for election to Luby's Board of Directors at the 2019 Annual Meeting of Shareholders. Luby's issued the following statement:"Luby's Board is in the process of reviewing Bandera's nomination notice consistent with its fiduciary duties. The Luby's Board and management team are committed to acting in the best interests of the Company and its shareholders. We are always open to constructive ideas regardless of their source and will carefully consider Bandera's candidates as we would any other potential directors to assess their ability to add value to the Board for the benefit of all shareholders.Luby's notes that the Company was surprised by Bandera's nominations. Bandera approached the Company only a few days prior to the nomination deadline and
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