Shares of Shake Shack (NYSE: SHAK) were climbing today on reports that an activist is circling around the fast-casual burger chain and planning a proxy battle for three board seats.

The restaurant stock closed up 7.8% on the news.

According to The Wall Street Journal, Engaged Capital has been in talks with Shake Shack management for more than six months, and proposed to install new directors and make other changes that it thinks would boost the stock price.

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Source Fool.com