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Luby’s shareholder seeks 4 board seats, sale or other ‘alternative’

HOUSTON Luby’s Inc., operator of the namesake 128-unit cafeteria chain, is under fire again from its largest independent shareholder, Ramius Capital Group LLC, which wants Luby’s to form a more independent board and to seek strategic alternatives for the company, including a possible sale.

Ramius Capital, which through its funds and subsidiaries holds 7.1 percent of Luby’s outstanding stock, nominated today four candidates for Luby’s board of directors,

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