Asecond generation of activist shareholders has begun aggressively investing in the restaurant industry, opening up the possibility of shakeups at such companies as O’Charley’s Inc., Luby’s Inc., Steak n Shake Co. and California Pizza Kitchen Inc. While some investors could merely be taking advantage of the recent drop in restaurant stock prices, others could be following in the footsteps of investors like Nelson Peltz and William Ackman, who successfully ...

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