NEW ORLEANS, May 7, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 7, 2014 to file lead plaintiff applications in a securities class action lawsuit against Ruby Tuesday, Inc. (NYSE:RT), if they purchased the Company's securities during the period between April 11, 2013 and October 9, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Middle District of Tennessee.
What You May Do
If you purchased shares of Ruby Tuesday and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 7, 2014.
About the Lawsuit
Ruby Tuesday and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) changes made to the menu at the Company's Ruby Tuesday chain were negatively impacting sales; (ii) contrary to the reported progress being made in a turnaround effort, Ruby Tuesday same-store sales were continuing to decline; (iii) the Company experienced a dramatic decline in sales at its Lime Fresh Grill restaurants, causing the carrying value of that chain's goodwill, trademark, properties and equipment to be materially impaired; and (iv) the Company's expenses and losses were being materially understated.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.