Jos. A. Bank Should Return Cash To Investors, Fund Says

Law360, New York (August 14, 2013, 12:08 PM EDT) -- Jos. A. Bank Clothiers Inc. is on the ropes after investment firm BeaconLight Capital LLC, making its public activist debut, demanded on Tuesday that the menswear chain return cash to shareholders and shake up its board.

Jos. A. Bank is trading around $41 per share, which shakes out to about six times analysts' consensus earnings expectations for the year ending January 2014, BeaconLight said. That's a nearly a 30 percent discount to its peer group, which includes Casual Male Retail Group Inc. and The Men's Wearhouse...
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