Activist investor Biglari seeks Steak n Shake board seats

INDIANAPOLIS Western Sizzlin chairman Sardar Biglari, head of The Lion Fund, which holds a 5.8-percent stake in 490-unit Steak n Shake, is seeking a seat for himself and an associate on the chain’s board of directors, according to a securities filing. All eight board seats will be up for re-election at next February’s shareholder meeting.

In a letter delivered last week to Indianapolis-based Steak n Shake, The Lion Fund said that Biglari and Philip L. Cooley, an

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