NEW YORK, May 2, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ruby Tuesday, Inc. ("Ruby Tuesday" or the "Company") (NYSE: RT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
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.
On April 7, 2016, post-market, the Company issued a press release characterizing its third quarter as "a volatile period affected by weather, softness in the casual dining industry, and increased promotional activity by our peers," and updating its full-year adjusted net income per share guidance to $0.05 to $0.08, compared to previous guidance in the range of $0.12 to $0.17. On a conference call that same day, the Company's Vice President of Finance reiterated the reduced guidance.
On this news, shares of Ruby Tuesday fell $0.62, or 11.8%, to close at $4.60 on April 8, 2016.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP