On January 30, 2017, JCP Investment Management, LLC issued a press release announcing the nomination of the nominees for election to the Board of Fiesta Restaurant Group, Inc. at the annual meeting. In addition, JCP Investment expressed its concerns with the destruction of value that the Company’s stockholders have suffered over the past several years, noting the Board’s misguided decision to pursue Pollo Tropical’s failed expansion into Texas. JCP Investment further expressed its view that the Board must be reconstituted with direct stockholder representatives and experienced restaurant operators.