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Fremont - exercise in Corporate Fiduciary Duty

Guest Bronco

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Is there a jail cell waiting for these jokers?


"With regard to the recently revised unsolicited offer from Biglari Holdings, Inc., we issued a news release on Jan. 12, 2011 noting that the Board of Directors has asked its previously appointed Special Committee to review the matter and make an appropriate recommendation to the Board on what it believes to be in the best interests of all shareholders and the Company. The Special Committee disclosed that it retained Philo Smith Capital Corporation as its financial advisor to explore a broad range of strategic alternatives to enhance shareholder value, and Honigman Miller Schwartz and Cohn LLP as its legal advisor to assist in its evaluation. The Special Committee is undertaking a careful examination of the issues in fulfillment of its fiduciary duties and will make a recommendation when it is feasible to do so. In the meantime, we will continue to operate Fremont in a way that strengthens our relationships with our agents and the communities we serve, while enhancing shareholder value."



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