January 25, 2019 / 4:54 PM / 9 months ago

CORRECTED-Luby's beats back board challenge from Bandera Partners

(Corrects headline and 2nd paragraph to say Bandera Partners, not Bandera Capital)

NEW YORK, Jan 25 (Reuters) - Casual dining chain Luby’s Inc. said on Friday that it beat back a long-term shareholder’s bid for four board seats when investors sided with management and elected all nine of the company’s director nominees.

Investors supported all of Luby’s directors ending a battle between the company and Bandera Partners, a small New York-based hedge fund that owns roughly 10 percent of Luby’s shares and demanded more accountability and oversight by the board. (Reporting by Svea Herbst-Bayliss Editing by Chizu Nomiyama)

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