La-Z Boy stockholders consider stock undervalued

By Lisa Kerner

Charlotte, N.C., Feb. 12 - La-Z-Boy Inc. shareholders MLF Investments, LLC and its affiliates, owing some 3 million shares, or 5.9%, of company stock, said they consider the company undervalued.

The investors currently maintain support of the company's management and its focus on the La-Z-Boy brand and maximizing the potential of its distribution network, according to a schedule 13D filing with the Securities and Exchange Commission.

The Monroe, Mich.-based furniture manufacturer's stock closed at $13.72 on Feb. 9.

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