Privet Fund Issues Open Letter to Shareholders of J. Alexander's Corporation Reiterating Dissatisfaction with Proposed Merger with Subsidiary of Fidelity National Financial
Privet Fund LP, member of The Committee to Strengthen J. Alexander's, a group that collectively holds over 10% of the common stock of J. Alexander's Corporation (NASDAQ: JAX) announced today that it has issued an open letter to shareholders of the Company outlining the reasons Privet believes the proposed transaction is not in the best interests of J. Alexander's shareholders. In response to the Company's violation of Tennessee law, Privet further states that it has filed a complaint in Tennessee Court seeking to compel the Company to hold its 2012 annual meeting of shareholders.
Privet has also given the Company formal notice of its intent to call a special meeting of stockholders in order to add two directors to the Company's Board in the event that the annual meeting is not held within 90 days.
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