The Lion Fund Raises Stake in Friendly Ice Cream (FRN), Seeks Two Board Seats
In an amended 13D filing on Friendly Ice Cream Corp. (AMEX: FRN), The Lion Fund disclosed an 12% stake (950K shares) in the company, this is up from the 11.11% stake the firm disclosed in a recent filing (09/07).
The Lion Fund said it has consulted with the Chairman of the Board of Directors and management of the Company concerning the business, operations and future plans, and is seeking seats on the Board of Directors for Mr. Sardar Biglari and Dr. Philip L. Cooley.
Sardar Biglari is the portfolio manager of the Lion Fund and models his investment philosophy after Warren Buffett. Dr. Philip L. Cooley is the Prassel Distinguished Professor of Finance at Trinity University and sits of the Board of Directors of the Lion Fund. The fund's website is http://lionfundmanagement.com.
The Lion Fund said it has consulted with the Chairman of the Board of Directors and management of the Company concerning the business, operations and future plans, and is seeking seats on the Board of Directors for Mr. Sardar Biglari and Dr. Philip L. Cooley.
Sardar Biglari is the portfolio manager of the Lion Fund and models his investment philosophy after Warren Buffett. Dr. Philip L. Cooley is the Prassel Distinguished Professor of Finance at Trinity University and sits of the Board of Directors of the Lion Fund. The fund's website is http://lionfundmanagement.com.
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posted by Lon at 6:06 PM
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