Biglari Investor Sues Over CEO's Self-Made License Deal

Law360, New York (July 3, 2013, 8:07 PM EDT) -- The CEO of Biglari Holdings breached his fiduciary duty when he made a licensing deal with himself that would make it too expensive for the company to ever fire him, according to a shareholder suit filed in Texas federal court Tuesday.

Sardar Biglari, the CEO of the company that owns restaurant chains Steak 'n' Shake Operations Inc. and Western Sizzlin Corp., entered a licensing contract with himself that lets the company use his name for free, according to the complaint filed by shareholder Edward Donahue....
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