JCP takes a bite at Fiesta Restaurant Group [Seeking Alpha]
Fiesta Restaurant Group, Inc. (FRGI)
Last fiesta restaurant group, inc. earnings: 2/26 04:05 pm
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Source: Seeking Alpha
JCP Investment Management sends a biting letter to the shareholders at Fiesta Restaurant Group (NASDAQ: FRGI ). The firm maintains that Fiesta has materially underperformed relevant indices and peers, suffered from poor corporate governance practices and poorly allocated capital to negative cash flow investments. "We believe that under the leadership of a properly functioning and well-qualified board, the significant value destruction experienced by Fiesta stockholders over the past several years should not have occurred," maintains JCP. JCP seeks to replace two directors. JCP holds a 9.0% stake in Fiesta through its position and shares held by affiliates. Source: Press Release Now read: McDonald's: Learning From Mistakes »
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