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Stock Market & Financial Investment News

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August 13, 2013
12:16 EDTJOSBBeaconLight Capital delivers letter to Jos. A. Bank board
BeaconLight Capital LLC and its affiliates delivered a letter to the Board of Directors of Jos. A. Bank. "After extensive study and analysis, we are convinced that tremendous value is trapped inside the company due to the absence of a credible capital allocation policy, an insular insider board, poorly aligned management incentives, and the company's refusal to communicate with shareholders... We urge the board to meet with shareholders with the goal of reconstituting the board to add true shareholder representation, and strongly encourage other shareholders to reach out to the company to demand change..we believe that the stock should be worth $70 per share even at a discounted multiple to its peers," BeaconLight Capital said.
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