Before the merger, Ruby Tuesday, Inc. was a publicly traded, multinational foodservice retailer that owned, operated and franchised restaurants.

According to the Complaint, this is a stockholder class action brought on behalf of the former holders of Ruby Tuesday common stock against Ruby Tuesday’s Board of Directors for violations of federal law arising out of an allegedly misleading Proxy Statement recommending the go-private sale of the Company to certain affiliates of NRD Capital Management for $2.40 per share (the “Acquisition” or “Merger”), in violation of §14(a) of the 1934 Act and SEC Rule 14a-9 promulgated thereunder.

On May 1, 2018, six of the individual Defendants filed a Motion to Dismiss the Complaint. On November 14, the Court issued an Order appointing Lead Plaintiff and Counsel. On March 14, 2019, the Court issued an Order granting the six individual Defendants' Motion to Dismiss. The Court issued an Order granting the remaining individual Defendant's Motion to Dismiss on August 2.