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BIGLARI CAPITAL URGES ALL JACK IN THE BOX SHAREHOLDERS TO VOTE AGAINST DAVID GOEBEL
Biglari Capital criticizes Jack in the Box chairman for governance failures and misleading proxy statements while noting 80% stock value loss and plans legal action.
- Biglari Capital urged shareholders to oppose David Goebel, citing false proxy materials and reserving legal remedies, during the recent proxy contest.
- Amid widespread shareholder losses, ISS and the three largest index funds — BlackRock, Vanguard and State Street — backed JACK's leader while active managers and retail voters sought accountability.
- Biglari said JACK spent one to defend a director, claiming Goebel failed to secure a majority and lacks credibility with active investors.
- Biglari warned that the outcome institutionalizes unaccountability, saying failing to hold boards of directors accountable promotes mediocrity and harms investors when major stewards of capital abdicate governance.
- Broader scrutiny of proxy voting and board performance may follow, as Biglari says the contest risks the integrity of corporate meritocracy and that Goebel should be embarrassed and ashamed of the company performance.
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Biglari Capital Calls for Immediate Resignation of Jack in the Box Chairman David Goebel, Who Was Overwhelmingly Rejected by Stockholders with "Skin in the Game" - Jack In The Box (NASDAQ:JACK)
The Company Should Not Hide Behind Its Treatment of Abstain Votes — Chairman Goebel Did Not Receive a Majority of the Votes Cast Jack in the Box Stockholders Cannot Afford Another Year of David Goebel ISS, BlackRock, Vanguard, and State Street Inexplicably Defended Long-Tenured David Goebel and Failed to Hold Any Director Accountable for JACK's Appalling Strategic Decisions and Massive Destruction of Stockholder Value This Proxy Contest Proved t…
·New York, United States
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Total News Sources37
Leaning Left0Leaning Right1Center20Last UpdatedBias Distribution95% Center
Bias Distribution
- 95% of the sources are Center
95% Center
C 95%
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