Bass, Berry & Sims attorneys Britt Latham and Joe Crace, along with lawyers at Shearman and Sterling, represented Ruby Tuesday Inc. and certain named officers in a shareholder class action. The plaintiffs allege that defendants made materially false and misleading statements and omissions concerning the company's repositioning strategy for its restaurants and the financial condition of one of its restaurant chains. Our motion to dismiss was granted in part, significantly reducing the class period and potential liability. Ruby Tuesday has agreed to pay $5 million to settle the class action, which is subject to court approval. Krystek v. Ruby Tuesday, Inc., No. 3:14-cv-01119 (M.D. Tenn.).
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