INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit Against Ruby Tuesday, Inc.
LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP reminds investors of Ruby Tuesday, Inc. (“Ruby Tuesday” or the “Company”) (NYSE:RT) that all purchasers of Ruby Tuesday common stock between April 11, 2013 and October 9, 2013, inclusive (the “Class Period”), have until July 7, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
Ruby Tuesday develops, operates and franchises a chain of casual dining restaurants in the United States, Guam and internationally under the Ruby Tuesday brand. The Complaint alleges that defendants misrepresented and/or failed to disclose material adverse facts throughout the Class Period concerning the Company’s financial performance and prospects, including that:
- Changes made to the menu at the Company's flagship Ruby Tuesday chain were negatively impacting sales.
- Contrary to reported progress being made in a turnaround effort, same-store sales were continuing to decline exponentially at the Company's flagship Ruby Tuesday chain.
- Ruby Tuesday had experienced a steep 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.
- The Company's expenses and losses were being materially understated and the value of the Company's deferred tax assets were overstated
If you are a member of the Class described above, you may move the Court no later than July 7, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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