Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of Biglari Holdings, Inc. (“BH” or the “Company”)(NYSE:BH) related to the June 4, 2015, announcement that The Lion Fund II commenced a tender offer for cash up to 575,000 shares of BH common stock. The Lion Fund II is controlled by the Company’s CEO and Chairman, Sardar Biglari. The investigation concerns whether the Board of Directors has breached their fiduciary duties to BH stockholders.

If you are a shareholder of BH, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.