Adviser recommends Steak n Shake seats for Biglari

INDIANAPOLIS Ahead of Steak n Shake Co.’s annual shareholder meeting on March 7, a proxy advisory firm recommended on Tuesday that the restaurant company’s shareholders nominate two dissident investors, including activist Sardar Biglari, to the company’s board of directors.

Glass Lewis & Co. said Steak n Shake’s current board had failed to hold senior executives accountable for the 490-unit chain’s deteriorating performance. The firm also criticized the chain's

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