The owner of Steak ‘n Shake is trying to pressure Cracker Barrel’s board into overhauling its leadership, which they claim destroyed shareholder value.

Sardar Biglari, founder of Biglari Capital Corporation, which owns 2.9% of all the Cracker Barrel Old Country Store's common stock, is leading a proxy battle at Cracker Barrel, urging shareholders to vote against the re-election of CEO Julie Masino and director and Compensation Committee Chair Gilbert Dávila, according to a securities filing on Thursday.

Biglari is also the CEO of Biglari Holdings Inc, which is the parent company that owns restaurant chains such as Steak ’n Shake and Western Sizzlin.

"We are seeking shareholder support to vote against these directors not only due to the severe destruction of shareholder value but also

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