Ruby Tuesday, Inc. is an American multinational foodservice retailer that owns, operates, and franchises Ruby Tuesday restaurants.

According to the law firm press release, the lawsuit alleges Defendants throughout the Class Period issued false and misleading statements to investors and/or failed to disclose that: (1) Ruby Tuesday’s fiscal year 2016 guidance was unobtainable and unrealistic; (2) promotional activity by its peers was adversely impacting Ruby Tuesday’s performance; (3) the continuing decline in casual dining customers and traffic adversely impacted Ruby Tuesday’s performance; and (4) as a result of the foregoing, Defendants’ statements about Ruby Tuesday’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

On August 4, 2016, the Court appointed Lead Plaintiff and Counsel.

This case was voluntarily dismissed on October 6, 2016.