Shareholder Activist Update: Spotlight Advisors and Clinton Group
|July 3rd, 2010||
|Contributed by: Hedge Fund Solutions LLC|
|Activist investors Spotlight Advisors and Clinton Group recently spoke with two directors of Red Robin Gourmet Burgers (NYSE: RRGB) to emphasize several of the shareholders’ concerns. The topics included the substantial upside in RRGB’s stock, the role and responsibility of the board if the company receives a buyout offer, and the importance of concluding various elements of the settlement agreement to which all parties agreed in March of this year.|
Analysis from Hedge Fund Solutions concludes that two tenets of the settlement agreement still remain unfulfilled: the appointment of a new CEO and of an additional independent director.
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