Houston-based restaurant company Luby’s Inc. (NYSE: LUB) issued a letter to shareholders Dec. 24 urging them to vote against an activist investor’s board nominees amid a proxy battle.
The investor, New York-based Bandera Partners LLC, has been pushing for changes at Luby’s and last week filed a preliminary proxy statement to nominate four individuals to Luby’s board: Jefferson Gramm, a portfolio manager at Bandera Partners; his father, former Sen. Phil Gramm; Stacy Hock, a philanthropist,…
