Activist investor buys stake in O’Charley’s

NASHVILLE Tenn. Hedge fund Crescendo Partners, a well-known activist investor, has taken an 8.9-percent stake through its funds and chief executive, Eric Rosenfeld, in the casual-dining operator and franchisor O'Charley's Inc., based here.

While disclosing its stake in a Nov. 15 filing with securities regulators, New York-based Crescendo said that it has no plans to take an activist role in the troubled restaurant company, but it left open the possibility of t

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