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In a letter sent to Caseys on Wednesday, JCP Investment Management LLC (which owns about $45 million of Caseys common stock), BLR Partners and shareholder Joshua Schechter said the companys shares are significantly undervalued and do not reflect Caseys earnings power and full real estate value. JCP, BLR and Schechter together own about 1 percent of the companys outstanding shares, according to Caseys management

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