Bass, Berry & Sims attorneys Britt Latham and Joe Crace, along with lawyers at Shearman and Sterling, are representing Ruby Tuesday Inc. in a shareholder class action. The suit stems from allegations the company lied about its performance during a six-month period in 2013, including representations regarding a secondary restaurant chain owned by the company. Ruby Tuesday filed a motion to dismiss the suit in February, claiming that shareholders failed to prove that the restaurant or its executives made any false or misleading statements and that the company made no effort to conceal its poor performance.
Law360 provided analysis of the case in the April 15, 2015 article “Simple Fraud Is Still Fraud, Ruby Tuesday Investors Say.” To read the full article, click here.