An investigation on behalf of investors of Ruby Tuesday, Inc. (NYSE:RT) in connection with the proposed takeover was announced and NYSE:RT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/25/2017 -- The acquisition of Ruby Tuesday, Inc. is under investigation over potential wrongdoing. The investigation was announced for investors in shares of Ruby Tuesday, Inc. (NYSE:RT) concerning whether the takeover of Ruby Tuesday, Inc. by NRD Capital for $2.40 per share is unfair.
Investors who purchased shares of Ruby Tuesday, Inc. (NYSE:RT) and currently hold any of those NYSE:RT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Ruby Tuesday, Inc. breached their fiduciary duties owed to NYSE:RT investors in connection with the proposed acquisition.
On October 16, 2017, Ruby Tuesday, Inc. (NYSE:RT) announced an agreement to be acquired by a fund managed by Atlanta-based private equity firm NRD Capital. Under the terms of the agreement, NRD Capital will acquire all of Ruby Tuesday's common stock for $2.40 per share in cash and will assume or retire all debt obligations for a total enterprise value of approximately $335 million, excluding transaction expense.
However, given that at least one analyst has set the high price target for NYSE: RT shares at $5.00 per share, the investigation concerns whether the offer is unfair to NYSE:RT stockholders. More specifically, the investigation concerns whether the Ruby Tuesday Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Ruby Tuesday, Inc. (NYSE:RT) reached as high as $9.72 per share in July 2013.
On October 18, 2017, NYSE: RT shares closed at $2.38 per share.
Those who are current investors in Ruby Tuesday, Inc. (NYSE:RT) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com