Cracker Barrel Old Country Store, Inc. (CBRL) has issued a letter to its shareholders regarding the forthcoming Annual Meeting of Shareholders. In the letter, the Board strongly encourages shareholders to support the 10 candidates proposed by Cracker Barrel for the Board of Directors.
“We seek your vote as Sardar Biglari is engaged in yet another expensive and distracting proxy contest—his seventh endeavor in the last 13 years. We believe that opposing Mr. Biglari is vital to safeguarding your investment, as his strategy essentially aims to hinder our efforts to invest in the long-term growth of the company while extracting capital from Cracker Barrel,” stated the company.
