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

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...