By  on September 26, 2008

Activist investors are again challenging the Dillard’s family — this time trying to get Dillard’s Inc.’s top executives to effectively relinquish their control over the board by selling their Class B stocks back to the firm.

Clinton Group Inc. and Barington Capital Group, which are among a cohort of investors that holds 5.7 percent of the retailer’s Class A common stock, has sent a letter to the board arguing that public shareholders are penalized by the company’s two-tier share system. The correspondence was filed with the Securities and Exchange Commission.

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