Luby's urges holders to support company board nominees
Luby's announced that it has mailed a letter to shareholders in connection with the company's upcoming Annual Meeting of Shareholders to be held on January 25, 2019. "As we approach the Luby's Annual Meeting of Shareholders on January 25, 2019, you have the opportunity to choose the directors who will chart the path forward for your Company. Given this important decision, we would like to make four simple points: Luby's is already making substantial progress on its aggressive turnaround plan to generate consistent and sustainable same-store sales growth and improved store profitability - all with the goal of increasing shareholder value. Luby's experienced and highly-qualified nominees are aligned with all shareholders and are best-positioned to continue overseeing the Company's turnaround. The four nominees hand-picked by New York-based activist hedge fund Bandera Partners LLC do not have the right experience to serve on the Board of Luby's - and their records are highly concerning. Bandera's actions and decisions during their campaign to replace directors on the Luby's Board call into question their credibility."