Luby’s Successful Proxy Contest against Bandera Partners


Sidley represented Luby’s, Inc. (NYSE: LUB) in its successful proxy contest defense against activist hedge fund Bandera Partners.

The shareholders of Luby’s voted to support the election of all nine director candidates of the Luby’s board and against the election of the four Bandera nominees.

Luby’s, Inc. owns and operates cafeteria-style restaurants under the name Luby’s. The Company operates in Arizona, Arkansas, Florida, Missouri, Oklahoma, Tennessee, and Texas. The company, led by Christopher J Pappas, Benjamin Coutee and K Scott Gray, in 2018, recorded $365 Million revenues.

Sidley’s team included partner and chair of Sidley’s shareholder activism practice Kai Haakon Liekefett (Picture) and partner George Vlahakos as well as associates Leonard Wood, Chris Porcelli, John Stribling, Leslie Slaughter, Riley Fedechko, and Tanner Groce.

Involved fees earner: Riley Fedechko – Sidley Austin LLP; Tanner Groce – Sidley Austin LLP; Kai Haakon Liekefett – Sidley Austin LLP; Christopher Porcelli – Sidley Austin LLP; Leslie Slaughter – Sidley Austin LLP; John Stribling – Sidley Austin LLP; George Vlahakos – Sidley Austin LLP; Leonard Wood – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Luby’s Inc.;