A1 and A2 version of "shareholder activists animal cream (A)" section of the original case into two parts. A1 it ends, as activists Sardar Biglari and Phil Cooley prepare to meet with the CEO Don Smith at the headquarters of the animals in September 2006. A2 case resumes the story only after meeting and details Biglari and actions of animals from now on. A1 and A2 cases designed for instructors who want more flexibility in the curriculum. These cases are not left out or cut any of the information contained in the original case. Two activist investors, a founder and co-manager hedge fund, seek to improve the supervisory board of the company, a chain of restaurants. Prestley Blake founded Friendly Ice Cream in 1935 with his brother and the two set up a chain of full-service restaurants. In 1979 they sold the business and retired. In 2000, Blake became concerned that the Director General of animals, who owned about 10% of the animals, as well as belonging to a larger percentage of other restaurant companies, was to shift costs between enterprises thus the damage to shareholders animals, but personally profitable CEO. In addition, Blake believed that the board of directors was not allowed to fulfill their fiduciary obligations to shareholders, properly supervise the activities of the CEO and directors that had a conflict of interest, because they were associated with an unfriendly CEO business. In 2003, Blake filed suit against the CEO and the company. In 2006, Sardar Biglari, hedge fund manager who invested in Friendly, entered into negotiations with the animals for him to join the board of directors to help improve the management of the business. When those negotiations failed, Biglari launched a proxy fight to animals in 2007. While these two activist investors similar goals, they worked independently of each other and have chosen different strategies. "Hide
by Fabrizio Ferri, VG Narayanan, James Weber Source: Harvard Business School 22 pages. Publication Date: September 11, 2008. Prod. #: 109013-PDF-ENG
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