SAN DIEGO, May 09, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in New York on behalf of certain purchasers of shares of Ruby Tuesday, Inc. (NYSE:RT) over alleged Securities Laws Violations by Ruby Tuesday. The lawsuit seeks to recover damages for certain Ruby Tuesday investors.
Investors who purchased shares of Ruby Tuesday, Inc. (NYSE:RT) have certain options and for certain investors are short and strict deadlines running. Deadline: June 28, 2016. NYSE:RT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants issued certain allegedly false and misleading statements to investors and/or failed to disclose that Ruby Tuesday’s fiscal year 2016 guidance was unobtainable and unrealistic, that promotional activity by its peers was adversely impacting Ruby Tuesday’s performance, that the continuing decline in casual dining customers and traffic adversely impacted Ruby Tuesday’s performance, and that as a result of the foregoing, defendants’ statements about Ruby Tuesday’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On April 7, 2016, Ruby Tuesday, Inc. reported its fiscal third quarter financial results and updated its fiscal year 2016 financial outlook. Additionally, Ruby Tuesday, Inc. disclosed that its CFO Jill Golder had resigned effective April 11, 2016.
Shares of Ruby Tuesday, Inc. (NYSE:RT) declined on April 28, 2016, to as low as $4.28 per share.
Those who purchased Ruby Tuesday, Inc. (NYSE:RT) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.