SAN DIEGO, Oct. 16, 2017 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Ruby Tuesday, Inc. (NYSE: RT) ("Ruby
Tuesday") breached their fiduciary duties in connection with the
proposed sale of the Company to NRD Capital. Ruby Tuesday engages
in the ownership, development, operation, and franchise of casual
dining restaurants under the Ruby Tuesday name in the United States and internationally.
On October 16, 2017, Ruby Tuesday
announced that it had signed a definitive merger agreement with NRD
Capital. Terms of the deal call for shareholders to receive
$ 2.40 per share for each share of
Ruby Tuesday stock they own.
The investigation concerns whether the Ruby Tuesday board failed
to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Ruby Tuesday shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal price represents adequate consideration,
especially given one Wall Street analyst has a $5.00 price target on the stock. Ruby Tuesday's
52 - week high was $3.67.
If you are a shareholder of Ruby Tuesday and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If
emailing, please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. 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.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP