(Reuters) - Jos A Bank Clothiers Inc
Shares of Jos A Bank Clothiers rose as much as 13 percent on the Nasdaq on Tuesday.
" We believe that the (Jos A Bank) stock should be worth $70 per share even at a discounted multiple to its peers," BeaconLight said in a letter to the retailer on Tuesday.
The investor demanded Jos A Bank to immediately return all of its cash to shareholders, preferably through share buybacks.
The letter comes at a time when activist investor William Ackman stepped down from J.C. Penney Co Inc's
(Reporting by Aditi Shrivastava in Bangalore; Editing by Joyjeet Das)