NEW YORK, Oct. 18, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Ruby Tuesday, Inc.
("RT" or the "Company") (NYSE: RT) in connection with the proposed
acquisition of the Company by private equity firm NRD
Capital Management ("NRD"). Under the terms of the
agreement, NRD will acquire all outstanding shares of RT in a
transaction valued at approximately $146.00
million, offering RT shareholders $2.40 for each share they own.
WeissLaw is investigating whether RT's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $5.00 per share, a little over two times greater
than NRD's offer price. Additionally RT shares traded above
the offer price as recently as June, peaking on January 5 when the Company's shares traded for
$3.58, or $1.18 above the offer price.
Given these facts, WeissLaw is investigating whether RT's Board
acted in the best interests of RT's public shareholders to maximize
shareholder value prior to entering into the agreement. If
you own RT shares and would like more information about your rights
or our investigation, or if you have information to share with us,
please contact Joshua Rubin
by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/ruby-tuesday-inc/
View original
content:http://www.prnewswire.com/news-releases/weisslaw-llp-ruby-tuesday-inc-acquisition-may-not-be-in-the-best-interests-of-rt-shareholders-300539229.html
SOURCE WeissLaw LLP