Marathon Partners Delivers Letter to J. Alexander's Chairman Frank Martire
After Failed Insider Led Transaction and Severe Share Price Underperformance Calls On Chairman Martire to Begin Serving the Best Interests of all Shareholders
Recommends the Board Appoint New, Independent Directors to Restore Accountability and Reduce the Troubling Influence of Conflicted Board Members
Urges the Formation of a Special Committee of Independent Directors and Engagement of an Independent Investment Bank to Explore All Strategic Alternatives to Maximize Shareholder Value
NEW YORK, Feb. 27, 2018 /PRNewswire/ -- Marathon Partners Equity Management, LLC, a New York-based investment firm, and its affiliated investment funds (collectively "Marathon Partners"), which beneficially own approximately 6.8% of the common stock of J. Alexander's Holdings, Inc. ("J. Alexander's" or, the "Company") (NYSE: JAX), announced today that it has delivered a letter to the Chairman of the Company's Board of Directors (the "Board") urging an independent review of strategic alternatives, including a potential sale of the Company, following shareholders' rejection of the Board-recommended acquisition of 99 Restaurants at the Company's Special Meeting of Shareholders on February 1, 2018.
The full text of Marathon's letter to the Chairman of the Board can be viewed at the following link:
About Marathon Partners
Marathon Partners Equity Management, LLC is a fundamental, research intensive investment firm that deploys capital with a long-term investment horizon.
Investor Contact
Mario Cibelli
(212) 490-0399
http://www.marathonpartners.com
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS CAN BE IDENTIFIED BY USE OF WORDS SUCH AS "OUTLOOK", "BELIEVE", "INTEND", "EXPECT", "POTENTIAL", "WILL", "MAY", "SHOULD", "ESTIMATE", "ANTICIPATE", AND DERIVATIVES OR NEGATIVES OF SUCH WORDS OR SIMILAR WORDS. FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE ARE BASED UPON PRESENT BELIEFS OR EXPECTATIONS. HOWEVER, FORWARD LOOKING STATEMENTS AND THEIR IMPLICATIONS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR AS A RESULT OF VARIOUS RISKS, REASONS AND UNCERTAINTIES. EXCEPT AS REQUIRED BY LAW, MARATHON PARTNERS EQUITY MANAGEMENT, LLC AND ITS AFFILIATES AND RELATED PERSONS UNDERTAKE NO OBLIGATION TO UPDATE ANY FORWARD LOOKING STATEMENT, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.
SOURCE Marathon Partners Equity Management, LLC
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