Biglari Holdings Inc (NYSE:BH) Investor Lawsuit Against Certain Directors Filed

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Company Name(s): 
Biglari Holdings
Case Name: 
Biglari Holdings Shareholder Derivative Lawsuit 02/15/2018
Case Status: 
Lawsuit Filed
Lawsuit Overview
Type of Lawsuit: 
Shareholder Derivative Action
Date Filed: 

An investor in shares of Biglari Holdings Inc (NYSE:BH) filed a lawsuit against certain directors of Biglari Holdings Inc over alleged breaches of fiduciary duties.

San Antonio, TX based Biglari Holdings Inc. is a holding company owning subsidiaries engaged in various business activities, including media, property and casualty insurance, and restaurants The Company's segments include Restaurant Operations, First Guard, Maxim, Other and Corporate. Biglari Holdings Inc reported that its annual Total Revenue declined from $861.45 million in 2015 to $850.08 million in 2015 and that its Net loss of $15.84 million in 2015 increased to $99.45 million in 2016.

The plaintiff seeks to stop a reorganization effort, arguing it will unjustly enrich the CEO, who within three years has already reaped $80 million to become the highest paid CEO in the restaurant industry.