The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 10 hours ago
Jan 24 2008 | 3:33pm ET
Following its defeat in a proxy battle with a Texas cafeteria chain, New York hedge fund Ramius Capital has sharply cut its stake in the company.
Ramius, which led a shareholder group seeking representation on the board of Luby’s Inc., has cut the group’s exposure to Luby’s from 7.5% to 4.5%.
Preliminary results from its proxy battle with Luby’s showed that the company’s shareholders reelected all four board members standing for reelection, rejecting the Ramius-backed candidates.
Immediately after the results were released, Ramius said it might run another slate of candidates at next year’s shareholder meeting.