Activist Client PW Partners Atlas Funds Obtains Board Representation at BJ’s Restaurants
Law 360 and other media sources reported on the settlement reached between Olshan activist client PW Partners Atlas Funds, together with other investors, and BJ’s Restaurants, Inc. (Nasdaq: BJRI). Under the agreement, BJ’s Restaurants has agreed to nominate three new independent directors at its 2014 annual meeting of shareholders, one of which has been appointed to the Board of Directors effective immediately. As part of the agreement, BJ’s Restaurants also announced a $50 million share repurchase authorization as well as an expansion of its previously announced cost-cutting initiative through the hiring of a consultant. The Olshan team representing PW Partners Atlas Funds included Steve Wolosky, Ron S. Berenblat and Ryan Nebel.