{"id":6554,"date":"2007-09-18T00:00:00","date_gmt":"2007-09-18T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-to-run-board-slate-at-lancaster","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2007\/hedge-funds-to-run-board-slate-at-lancaster.html","title":{"rendered":"Hedge funds to run board slate at Lancaster"},"content":{"rendered":"<p>Reuters- Hedge fund shareholders in Lancaster Colony Corp (LANC.O: <a href=\"..\/stocks\/quote?symbol=LANC.O\">Quote<\/a>, <a href=\"..\/stocks\/companyProfile?symbol=LANC.O\">Profile<\/a>, <a href=\"..\/stocks\/researchReports?symbol=LANC.O\">Research<\/a>) said on Monday they plan to run a slate of board candidates at the consumer products maker in the latest move in a increasingly acrimoniouscampaign, according to a regulatory filing.<\/p>\n<p>  Barington Capital Group, led by noted activist investor James Mitarotonda, told the company in a Sept. 17 letter that the company &#8220;has the potential to deliver considerly stronger returns for  shareholders.&#8221;<\/p>\n<p>  But Mitarotonda also said,&nbsp;&#8220;we lack faith in the ability of the board to improve shareholder value based on its track record to date.&#8221;<\/p>\n<p>  &#8220;We therefore intend to nominate alternative candidates for election to the board&#8221; at its 2007 annual shareholders meeting, the hedge fund said in the letter, which was filed with regulators.<\/p>\n<p>  Barington and hedge funds including RJG Capital Partners and D.B. Zwirn &amp; Co held about 1.69 million shares of Columbus, Ohio-based Lancaster, or about 5.6 percent of its stock.<\/p>\n<p>  Lancaster Colony shares closed at $35.90 on Nasdaq on Monday, down 85 cents, or 2.3 percent.<\/p>\n<p><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/0-0&amp;fd=R&amp;url=http:\/\/www.reuters.com\/article\/fundsFundsNews\/idUSN1735675220070917&amp;cid=1120927728&amp;ei=dYHvRsqYI4T0rQPX_YjCBA\"><strong>ReadComplete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters- Hedge fund shareholders in Lancaster Colony Corp (LANC.O: Quote, Profile, Research) said on Monday they plan to run a slate of board candidates at the consumer products maker in the latest move in a increasingly acrimoniouscampaign, according to a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6554","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6554"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6554\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}