I first found out about Sardar Biglari in 2006 when I saw his first Western Sizzlin letter to shareholders. I was subsequently lucky enough to come across his Lion Fund reports to unit holders.
It was not hard to tell very quickly that he was very smart, believed in a very intelligent approach to investing and was very motivated to succeed.
I didn't realize then though that he would become such an activist investor. Of course he was active with Western Sizzlin, then Steak N Shake, then Freemont Insurance and now.......
Tiny little CCA Industries (CAW, Financial)
Below is a link to a recent letter he sent asking for Board representation and the letter. He is not boring I will give him that.
http://www.sec.gov/Archives/edgar/data/721447/000095012311006083/c11523exv1.htm
Dear Sir or Madam:
This letter serves as notice to CCA Industries, Inc., a Delaware corporation (the “Company”), as to the nomination by The Lion Fund, L.P., a Delaware limited partnership (the “Lion Fund” or the “Nominating Stockholder”), of two (2) nominees for election to the Board of Directors of the Company (the “Board”) at the 2011 annual meeting of stockholders of the Company, or any other meeting of stockholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof (the “Annual Meeting”).
This letter and the Exhibits attached hereto are collectively referred to as the “Notice.” As of the date hereof, the Nominating Stockholder is the beneficial owner of 142,036 shares of Common Stock, $0.01 par value per share, of the Company (the “Common Stock”), 1,000 shares of which are held in record name. Through this Notice, the Nominating Stockholder hereby nominates and notifies you of its intent to nominate Sardar Biglari and Philip L. Cooley as nominees (the “Nominees”) to be elected by holders of the Common Stock to the Board as directors at the Annual Meeting. The Nominating Stockholder believes that the terms of seven (7) directors (four(4) of which are elected by the holders of the Class A Common Stock, $0.01 par value per share, of the Company (the “Class A Common Stock”) and three (3) of which are elected by the holders of the Common Stock) currently serving on the Board expire at the Annual Meeting. If in fact there are more than seven (7) directors eligible for election (or more than four (4) directors elected by the holders of the Class A Common Stock or three (3) directors elected by the holders of the Common Stock), the Nominating Stockholder reserves the right to nominate such number of additional directors eligible for election at the Annual Meeting. Any additional nominations made pursuant to the preceding sentence are without prejudice to the position of the Nominating Stockholder that any attempt by the Company to increase the size of the Board or to classify, reconstitute or reconfigure the Board would constitute an unlawful manipulation of the Company’s corporate machinery. Additionally, if this Notice shall be deemed for any reason to be ineffective with respect to the nomination of either of the Nominees at the Annual Meeting, or if any individual Nominee shall be unable to serve for any reason, this Notice shall continue to be effective with respect to the remaining Nominee and as to any replacement Nominee selected by the Nominating Stockholder. The Nominating Stockholder intends to solicit proxies in support of the Nominees’ election in accordance with applicable law and intends to comply with applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder. The Nominating Stockholder is not proposing the Nominees for consideration by the Nominating Committee of the Board pursuant to the procedures set forth under the heading “Nominating Committee” in the Company’s proxy statement relating to its 2010 annual meeting of stockholders.
Below please find information concerning the Nominees and the Nominating Stockholder (without conceding that any such information is required to be disclosed in this Notice). Disclosure of information in any part of this Notice shall be deemed disclosed for all purposes of this Notice. The Nominating Stockholder intends to nominate Sardar Biglari and Philip L. Cooley as nominees for election by the holders of the Common Stock to the Board at the Annual Meeting because the Nominating Stockholder believes the Company and its stockholders will benefit from the presence of Mr. Biglari and Dr. Cooley on the Board.
It was not hard to tell very quickly that he was very smart, believed in a very intelligent approach to investing and was very motivated to succeed.
I didn't realize then though that he would become such an activist investor. Of course he was active with Western Sizzlin, then Steak N Shake, then Freemont Insurance and now.......
Tiny little CCA Industries (CAW, Financial)
Below is a link to a recent letter he sent asking for Board representation and the letter. He is not boring I will give him that.
http://www.sec.gov/Archives/edgar/data/721447/000095012311006083/c11523exv1.htm
Dear Sir or Madam:
This letter serves as notice to CCA Industries, Inc., a Delaware corporation (the “Company”), as to the nomination by The Lion Fund, L.P., a Delaware limited partnership (the “Lion Fund” or the “Nominating Stockholder”), of two (2) nominees for election to the Board of Directors of the Company (the “Board”) at the 2011 annual meeting of stockholders of the Company, or any other meeting of stockholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof (the “Annual Meeting”).
This letter and the Exhibits attached hereto are collectively referred to as the “Notice.” As of the date hereof, the Nominating Stockholder is the beneficial owner of 142,036 shares of Common Stock, $0.01 par value per share, of the Company (the “Common Stock”), 1,000 shares of which are held in record name. Through this Notice, the Nominating Stockholder hereby nominates and notifies you of its intent to nominate Sardar Biglari and Philip L. Cooley as nominees (the “Nominees”) to be elected by holders of the Common Stock to the Board as directors at the Annual Meeting. The Nominating Stockholder believes that the terms of seven (7) directors (four(4) of which are elected by the holders of the Class A Common Stock, $0.01 par value per share, of the Company (the “Class A Common Stock”) and three (3) of which are elected by the holders of the Common Stock) currently serving on the Board expire at the Annual Meeting. If in fact there are more than seven (7) directors eligible for election (or more than four (4) directors elected by the holders of the Class A Common Stock or three (3) directors elected by the holders of the Common Stock), the Nominating Stockholder reserves the right to nominate such number of additional directors eligible for election at the Annual Meeting. Any additional nominations made pursuant to the preceding sentence are without prejudice to the position of the Nominating Stockholder that any attempt by the Company to increase the size of the Board or to classify, reconstitute or reconfigure the Board would constitute an unlawful manipulation of the Company’s corporate machinery. Additionally, if this Notice shall be deemed for any reason to be ineffective with respect to the nomination of either of the Nominees at the Annual Meeting, or if any individual Nominee shall be unable to serve for any reason, this Notice shall continue to be effective with respect to the remaining Nominee and as to any replacement Nominee selected by the Nominating Stockholder. The Nominating Stockholder intends to solicit proxies in support of the Nominees’ election in accordance with applicable law and intends to comply with applicable requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder. The Nominating Stockholder is not proposing the Nominees for consideration by the Nominating Committee of the Board pursuant to the procedures set forth under the heading “Nominating Committee” in the Company’s proxy statement relating to its 2010 annual meeting of stockholders.
Below please find information concerning the Nominees and the Nominating Stockholder (without conceding that any such information is required to be disclosed in this Notice). Disclosure of information in any part of this Notice shall be deemed disclosed for all purposes of this Notice. The Nominating Stockholder intends to nominate Sardar Biglari and Philip L. Cooley as nominees for election by the holders of the Common Stock to the Board at the Annual Meeting because the Nominating Stockholder believes the Company and its stockholders will benefit from the presence of Mr. Biglari and Dr. Cooley on the Board.
