Activist investor Biglari blasts Steak n Shake board

SAN ANTONIO Activist investor and Western Sizzlin chairman Sardar Biglari criticized what he called Steak n Shake’s "failed vision, failed strategy, failed execution, and failed board" in a letter on Monday to the company’s shareholders.

Biglari, whose San Antonio-based Lion Fund has amassed a 6.7-percent stake in the family-dining chain, also reiterated his intention to seek seats for himself and an associate on the Steak n Shake board.

Calls to

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