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Ruby Tuesday Inc (NYSE: RT) Investor Securities Class Action Lawsuit 04/29/2016

  • If you purchased shares of Ruby Tuesday Inc (NYSE: RT), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Ruby Tuesday, Inc.
Security
NYSE: RT

Case Name
Ruby Tuesday Shareholder Class Action Lawsuit 04/29/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

October 6, 2016 - The case was voluntarily dismissed.

April 29, 2016 - An investor in shares of Ruby Tuesday Inc (NYSE: RT) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Ruby Tuesday Inc in connection with certain allegedly false and misleading statements made between July 24, 2015 and April 7, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Ruby Tuesday Inc (NYSE: RT) common shares between July 24, 2015 and April 7, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 24, 2015 and April 7, 2016, the defendants issued allegedly false and misleading statements to investors and/or failed to disclose that Ruby Tuesday Inc’s fiscal year 2016 guidance was unobtainable and unrealistic, that promotional activity by its peers was adversely impacting Ruby Tuesday Inc’s performance, that the continuing decline in casual dining customers and traffic adversely impacted Ruby Tuesday Inc’s performance, and that as a result of the foregoing, defendants’ statements about Ruby Tuesday Inc’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.