A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Ruby Tuesday Inc (NYSE:RT) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on July 17, 2017 and NYSE:RT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/30/2017 -- A deadline is coming up on July 17, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Ruby Tuesday Inc (NYSE:RT) between April 10, 2013 and October 9, 2013.
Investors who purchased a significant amount of shares of Ruby Tuesday Inc (NYSE:RT) between April 10, 2013 and October 9, 2013, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Ruby Tuesday Inc (NYSE:RT) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/ruby-tuesday-inc-nyse-rt-investor-securities-class-action-lawsuit-05062014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is July 17, 2017. The class action administrator for this case is Gilardi & Co LLC.
The lawsuit was originally filed in the U.S. District Court for the Middle District of Tennessee against Ruby Tuesday Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 11, 2013 and October 9, 2013.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Ruby Tuesday Inc (NYSE: RT) between April 11, 2013 and October 9, 2013, that the defendants violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that between April 11, 2013 and October 9, 2013 Ruby Tuesday Inc issued allegedly materially false and misleading statements regarding its financial performance and future prospects and failed to disclose the following adverse facts that changes made to the menu at Ruby Tuesday Inc's flagship Ruby Tuesday Inc chain to increase the range of offerings and price points were negatively impacting sales, as the average sales check price was declining without contemporaneous increases in traffic, that contrary to the reported progress being made in a turnaround effort, same-store sales were continuing to decline exponentially at the Company's flagship Ruby Tuesday Inc chain, that the Company had experienced a dramatic decline in sales at its Lime Fresh Grill restaurants, and as a result, the carrying value of that chain's goodwill, trademark and properties and equipment was materially impaired, that the Company's expenses and losses were being materially understated, that the value of Ruby Tuesday Inc's deferred tax assets were overstated, and that based on the foregoing, defendants lacked a reasonable basis for their positive statements about Ruby Tuesday Inc's business between April 11, 2013 and October 9, 2013.
Those who purchased shares of Ruby Tuesday Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com