Stop The Wilting At Garden FreshBy
Garden Fresh Restaurant (LTUS), which operates a chain of 84 salad buffet restaurants in 14 states, has seen its stock fall from 14 to 8 in just four months, because of earnings disappointments. So a big stakeholder is pressing management to do something to boost the stock--or else. David Nierenberg, who heads D3 Family Fund and owns 14.3% of Garden's stock, says: "Something substantial and different must be done to maximize shareholder value." He notes that the stock is way under its initial public offering price of five years ago and 39% below book value.
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