Ramius Cuts Luby’s Stake

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...