Dear Charlotte

The board of directors of San Diego retailer Charlotte Russe Holding Inc. received a letter recently from Baltimore-based Plainview Capital LLC, in which the hedge fund, a shareholder in the publicly traded retailer, urged the board to accept a recent bid from a private-equity investment consortium. According to Plainview Capital’s letter, the bid— a cash offer of between $9 and $9.50 per share in cash by KarpReilly and H.I.G. Capital—“represents fair value to shareholders.” The letter, which was released to the press and public, further encourages Charlotte Russe’s board to solicit more acquisition offers or reconsider the existing one from Karpshy;Reilly and H.I.G. Capital.