On January 3, 2019, Bandera Partners LLC announced that it has issued a public letter to Luby’s Inc. stockholders. In the letter, Bandera Partners expressed its view that the only way to accomplish value maximizing is by infusing the Board of Directors with its nominees, who would advocate for shareholders’ interests as owners of the Company. Bandera Partners also urged the shareholders to vote on its proxy card for the election of its nominees: Senator Phil Gramm, Stacy Hock, Savneet Singh, and Jeff Gramm as directors of the Company at the Company’s 2018 annual meeting of shareholders.