SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of Ruby Tuesday, Inc. (NYSE: RT) violated state or federal laws. Ruby Tuesday and its subsidiaries owns, develops, operates, and franchises a chain of casual dining restaurants in the United States, Guam, and internationally under the Ruby Tuesday brand.
Specifically, the investigation will center on statements issued by Ruby Tuesday between April 10, 2013 and July 24, 2013. During this period, a series of statements were issued by Ruby Tuesday regarding its business, operations, valuation and prospects. Our investigation will determine if these statements were known to be materially false and misleading at the time they were made.
After the market closed on July 24, 2013, Ruby Tuesday, reported its fourth quarter and fiscal 2013 results. The Company reported that its total revenue declined from over $1.31 billion for the 53 week period that ended on June 5, 2012 to over $1.25 billion for the 52 week period that ended on June 4, 2013 and that its respective net loss increased from $0.19 million to $39.41 million. On this news the stock dropped 14% the next trading day, July 25, 2013. As of February 19, 2014 Ruby Tuesday’s shares are down nearly 40% since the July 24, 2013 earnings announcement.
If you are a shareholder of Ruby Tuesday and interested in learning more about the investigation or your legal rights and remedies or you have information that could assist in this investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.