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 firstname.lastname@example.org.
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 email@example.com or fill out the form on our website, http://www.weisslawllp.com/ruby-tuesday-inc/