Ramius cuts its stake in Luby’s

NEW YORK A shareholder group led by Ramius Capital Group LLC trimmed its holdings in Luby’s Inc. of Houston from 7.5 percent of shares outstanding to 4.5 percent just weeks after the cafeteria chain operator won a proxy battle over board seats that Ramius had hoped to garner.

According to regulatory filings submitted late Wednesday, the activist shareholders now own about 1.3 million shares of Luby’s, the operator of 128 cafeterias. On Jan. 17, the shareholder

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