UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of The Securities Exchange Act of 1934
(Amendment No. )
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FIESTA RESTAURANT GROUP, INC. |
(Name of Registrant as Specified in Its Charter) |
JCP INVESTMENT PARTNERSHIP, LP JCP SINGLE-ASSET PARTNERSHIP, LP JCP INVESTMENT PARTNERS, LP JCP INVESTMENT HOLDINGS, LLC JCP INVESTMENT MANAGEMENT, LLC JAMES C. PAPPAS BLR PARTNERS LP BLRPART, LP BLRGP INC. FONDREN MANAGEMENT, LP FMLP INC. BRADLEY L. RADOFF BANDERA MASTER FUND L.P. BANDERA PARTNERS LLC GREGORY BYLINSKY JEFFERSON GRAMM LAKE TRAIL MANAGED INVESTMENTS LLC LAKE TRAIL CAPITAL LP LAKE TRAIL CAPITAL GP LLC THOMAS W. PURCELL, JR. JOSHUA E. SCHECHTER JOHN B. MORLOCK ALAN VITULI |
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JCP Investment Management, LLC, together with the other participants named herein (collectively, “JCP”), has made a definitive filing with the Securities and Exchange Commission of a proxy statement and accompanyingGOLD proxy card to be used to solicit votes for the election of JCP’s slate of highly qualified director nominees to the Board of Directors of Fiesta Restaurant Group, Inc., a Delaware corporation (the “Company”), at the Company’s upcoming 2017 annual meeting of stockholders, or any other meeting of stockholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof.
Item 1: On May 8, 2017, JCP issued the following press release announcing the launch ofwww.FixFiesta.com, a website dedicated to communicating with the Company’s stockholders:
JCP LAUNCHES WEBSITE WWW.FIXFIESTA.COM DEDICATED TO ELECTION OF ITS TWO NOMINEES AT FIESTA RESTAURANT GROUP’S ANNUAL MEETING
Urges Stockholders to vote theGOLD Proxy to Elect John B. Morlock and James C. Pappas
HOUSTON, TX, May 8, 2017 – JCP Investment Management, LLC, together with its affiliates and the other participants in its solicitation (collectively, “JCP” or “we”), collectively one of the largest stockholders of Fiesta Restaurant Group, Inc. (“Fiesta” or the “Company”) (NASDAQ:FRGI), with aggregate ownership of approximately 8.6% of the Company’s outstanding shares, today announced the launch ofwww.FixFiesta.com, a website dedicated to the election of JCP’s highly qualified nominees, John B. Morlock and James C. Pappas, to Fiesta’s Board of Directors (the “Board”) at the Company’s upcoming annual meeting scheduled for June 7, 2017 (the “Annual Meeting”).
JCP has filed a definitive proxy statement and an accompanyingGOLD proxy card with the Securities and Exchange Commission in order to give stockholders an opportunity to replace Barry J. Alperin and Brian P. Friedman, directors who have overseen significant value destruction at Fiesta (includingnegative total shareholder returns over the past 1, 2 and 3-year periods), with direct stockholder representatives possessing restaurant industry experience.
As further explained in JCP’s proxy materials, which are available atwww.FixFiesta.com, stockholders deserve an alternative to the poor operating performance and lack of accountability that has plagued Fiesta under the leadership of the incumbent Board. Notably, while Fiesta has unilaterally appointed three directors since the end of February, no incumbent has stepped down and none of the recently appointed directors (including Nicholas P. Shepherd, who also serves as a director of Spirit Realty Capital, Inc., which suffered a one-day share pricedecline of nearly 25% last week) are up for election at the Annual Meeting.
It is imperative that Fiesta stockholders take advantage of the opportunity at the Annual Meeting to elect representatives of their choosing.The time for change is now – JCP urges all stockholders to vote theGOLD proxy card today.
About JCP Investment Management:
JCP Investment Management, LLC is an investment firm headquartered in Houston, TX that engages in value-based investing across the capital structure. JCP follows an opportunistic approach to investing across different equity, credit and distressed securities largely in North America.
Investor Contacts:
James C. Pappas
JCP Investment Management, LLC
(713) 333-5540
John Glenn Grau
InvestorCom
(203) 972-9300
Media Contact:
Gotham Communications
Bill Douglass, (646) 504-0890
bill@gothamcomm.com
Item 2: The following materials were posted by JCP towww.FixFiesta.com: