WAYNE, Pa., April 20, 2016 /PRNewswire/ -- Ryan & Maniskas, LLP has commenced an investigation into potential securities law violations by certain officers of Ruby Tuesday, Inc. ("Ruby Tuesday" or the "Company") (NYSE: RT).
Ruby Tuesday shareholders who purchased shares should contact Richard A. Maniskas, Esquire at 877-316-3218 or at email@example.com to learn more about this investigation or visit: www.rmclasslaw.com/cases/rt.
The investigation concerns whether Ruby Tuesday and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Recently, a court denied, in part, Ruby Tuesday's motion to dismiss a complaint that stemmed from allegations that Ruby Tuesday 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 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 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 the Company's deferred tax assets were overstated, and that based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company's business.
If you own Ruby Tuesday shares and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/rt. You may also email Mr. Maniskas at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
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SOURCE Ryan & Maniskas, LLP