Published May 14, 2023 07:19PM ET Updated May 14, 2023 08:25PM ET© Reuters. FILE PHOTO: An order is seen at the Shake Shack at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew KellySHAK -1.93% Add to/Remove from Watchlist(Reuters) -Activist investor Engaged Capital is planning a proxy fight for three board seats at high-end burger chain Shake Shack (NYSE: ), the Wall Street Journal reported on Sunday, citing people familiar with the matter. Including swaps, Engaged has a roughly 6.6% stake in the chain, the report said. "Our stock is up more than 50% year-to-date and we are well positioned to continue enhancing value for shareholders," a spokesperson for Shake Shack said in a statement sent to Reuters.

Source: Wall Street Journal May 14, 2023 23:32 UTC