This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Privet Fund LP Delivers Letter To Independent Directors Of J. Alexander's

ATLANTA, April 2, 2012 /PRNewswire/ -- Privet Fund LP ("Privet"), member of a group of shareholders collectively holding over 12.6% of the common stock of J. Alexander's Corp. ("J. Alexander's" or the "Company") (NASDAQ: JAX), today announced that it delivered a letter to the Company's independent directors.

The full text of the letter follows:

April 2, 2012

E. Townes Duncan Brenda B. Rector Joseph N. Steakley

J. Alexander's Corporation3401 West End Avenue, Suite 260 Nashville, Tennessee 37202

Dear Independent Directors of J. Alexander's Corporation,

As significant shareholders of J. Alexander's Corporation ("J. Alexander's" or the "Company"), holding over 12.6% of the Company's common stock, we call on you to exercise your fiduciary duties as independent directors. These duties mandate that you work to create value for shareholders. Given the Company's historical inability to create stockholder value, we believe it is now time to give shareholders a voice in the strategic direction of J. Alexander's.

We find it troubling that, following the nomination of our highly qualified director candidates and our numerous attempts to more fully discuss our suggestions, no representative of Company management or current Director has sought to speak with any member of our group. There has been no attempt to interview our candidates for potential Board service, nor has there been any effort to initiate a constructive dialogue that could potentially avoid a protracted and costly proxy contest. How can the complete dismissal of the Company's largest shareholder group (not to mention the implementation of a more stringent poison pill) be construed as being in the best interests of shareholders? As independent directors of a widely-held public company, your fiduciary duties may at times be at odds with the interests of non-independent directors. At such times, you must not simply settle for what may satisfy your technical legal obligations, but rather strive to create results that advance shareholder interests.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.69 -0.59%
FB $119.49 1.40%
GOOG $711.11 1.40%
TSLA $214.84 1.60%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs