Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Ruby Tuesday, Inc. To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ruby Tuesday, Inc. (“Ruby Tuesday” or the “Company”) (NYSE:RT) of the June 28, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Ruby Tuesday securities between July 24, 2015 and April 7, 2016 (the “Class Period”). The case, Jacob et al v. Ruby Tuesday, Inc. et al, No. 1:16-cv-03214 was filed on April 29, 2016, and has been assigned to Judge Ronnie Abrams.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making statements that were false and/or misleading and/or failed to disclose that: (1) the fiscal year 2016 guidance was unrealistic; (2) promotional activity by competitors was adversely impacting Ruby Tuesday’s performance; (3) the continuing decline in casual dining customers and traffic adversely impacted Ruby Tuesday’s performance; and (4) as a result, statements about Ruby Tuesday’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Specifically, on April 7, 2016, after market close, the Company issued its fiscal third quarter 2016 financial results, which fell below expectations. As a result, the Company revised its guidance for fiscal 2016.
After the announcement, Ruby Tuesday’s share price fell from $5.22 per share on April 7, 2016 to a closing price of $4.60 on April 8, 2016—a $0.62 or a 11.88% drop.
If you invested in Ruby Tuesday stock or options between July 24, 2015 and April 7, 2016 and would like to discuss your legal rights, please fill out the form below or contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Ruby Tuesday’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.