NEW YORK, May 22, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee on behalf of investors who purchased Ruby Tuesday, Inc. ("Ruby Tuesday" or the "Company") (NYSE:RT) common stock between April 11, 2013 and October 9, 2013.
For more information, click here: http://zlk.9nl.com/ruby-tuesday-rt.
The complaint alleges that Ruby Tuesday issued materially false and misleading information regarding the Company's financial performance and future prospects, and/or failed to disclose adverse facts. In particular, it is alleged that, among other allegations, changes made to the menu at the Company's flagship Ruby Tuesday chain to increase the range of offerings and price points were negatively impacting sales, as the average sales check price was declining without contemporaneous increases in traffic, and that contrary to reported progress, same-store sales were continuing to decline exponentially.
On July 24, 2013, Ruby Tuesday reported its fourth quarter and fiscal 2013 results, reporting a total revenue decline from over $1.31 billion for the 53-week period that ended June 5, 2012. The Company also reported a total revenue decline over $1.25 billion for the 52-week period that ended June 4, 2013 and a net loss increased from $0.19 million to $39.41 million.
If you suffered a loss in Ruby Tuesday you have until July 7, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/ruby-tuesday-rt.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. with extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP