New York hedge fund Ramius Capital Group has been stymied in battle for representation on the board of Luby’s Inc.
Preliminary results indicate that shareholders have reelected four members of the Houston-based cafeteria operator’s panel, rejecting a slate of Ramius-nominated candidates. Luby’s said closing results won’t be accessible for an amount of days.
The hedge stock had blasted the existing panel for an allegedly sweetie trade for its CEO and head operating policeman, the brothers Christopher and Harris Pappas, arguing a debt-for-stock trade they made was overly favourable. Ramius, which owns 7% 0f Luby’s, too complained that the panel and administration have not done enough to encourage its fund cost. The defeat for Ramius comes in spite of backing for several of its candidates from several proxy services. The hedging stock said it may operate another slate of panel candidates next year.
In computer networks, a proxy server is a server (a computer system or an application program) which services the requests of its clients by forwarding requests to other servers. A client connects to the proxy server, requesting some service, such as a file, connection, web page, or other resource, available from a different server. The proxy server provides the resource by connecting to the specified server and requesting the service on behalf of the client. A proxy server may optionally alter the client's request or the server's response, and sometimes it may serve the request without contacting the specified server. In this case, it would 'cache' the first request to the remote server, so it could save the information for later, and make everything as fast as possible.
A proxy server that passes all requests and replies unmodified is usually called a gateway or sometimes tunneling proxy.
A proxy server can be placed in the user's local computer or at specific key points between the user and the destination servers or the Internet.
17 January 2008
Proxy Battle
at 12:50 AM
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