On May 2, 2024, Blackwells Capital LLC announced that it has sent a letter to representatives of Braemar Hotels & Resorts, Inc. demanding that the board of directors of the Company immediately investigate potential breaches of fiduciary duty and/or other wrongdoing, including potential violations of the federal securities laws, by members of the Board and senior management with respect to mismanagement or self-dealing in connection with the various contracts entered into with Ashford Inc. and its affiliates; the fees resulting from these contracts; and the Related Party Transactions Committee?s review and approval of such related-party transactions with Ashford and its affiliates. Blackwells added that it has sent a second letter dated May 2, 2024 to representatives of the Company demanding that the Board immediately investigate Monty Bennett?s improper actions and the potential breaches of fiduciary duty and/or other wrongdoings related to The Dallas Express.
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