MILWAUKEE, Oct. 16, 2017 /PRNewswire/ -- Ademi &
O'Reilly, LLP is investigating the Board of Directors of Ruby
Tuesday, Inc. (Nasdaq: RT) for possible breaches of fiduciary duty
and other violations of Georgia
law in connection with the sale of Ruby Tuesday to NRD.
Click here to learn how to join the action:
http://ademilaw.com/case/ruby-tuesday or call Guri Ademi toll-free at 866-264-3995. There is
no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Ruby Tuesday's long-term
financial outlook is improving and yet Ruby Tuesday shareholders
will receive $2.40 per Ruby Tuesday
common share or approximately $335
million in the aggregate. NRD is well aware of Ruby
Tuesday's improving financial metrics and is purchasing Ruby
Tuesday at a substantial discount. The merger agreement
unreasonably limits competing bids for Ruby Tuesday by (i)
prohibiting solicitation of any further bids, and (ii) imposing a
termination penalty should Ruby Tuesday receive and accept a
superior bid. Ruby Tuesday insiders, their affiliates and other
major shareholders own significant voting stock, and will receive
millions of dollars as part of change of control arrangements, and
therefore can unduly influence a sale of Ruby Tuesday. Our
investigation centers on the conduct of Ruby Tuesday's Board of
Directors, who have unanimously approved the transaction, and
whether they are (i) fulfilling their fiduciary duties to all
shareholders, and (ii) obtaining a fair and reasonable price for
Ruby Tuesday given its current financial condition and
prospects.
If you own common stock in Ruby Tuesday and wish to obtain
additional information, please contact Guri
Ademi either at gademi@ademilaw.com or toll-free:
866-264-3995, or http://ademilaw.com/case/ruby-tuesday.
We specialize in shareholder litigation involving buyouts,
mergers, and individual shareholder rights throughout the country.
For more information, please feel free to call us. Attorney
advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
View original
content:http://www.prnewswire.com/news-releases/shareholder-alert-ademi--oreilly-llp-investigates-whether-ruby-tuesday-inc-has-obtained-a-fair-price-in-its-sale-to-nrd-capital-300537081.html
SOURCE Ademi & O'Reilly, LLP