Ruby Tuesday Shareholders Sue Over $335M PE Firm Buy

Law360, New York (November 14, 2017, 4:42 PM EST) -- A proposed class of Ruby Tuesday Inc. shareholders filed suit against the restaurant company in Tennessee federal court on Tuesday, seeking to halt private equity firm NRD Capital Management LLC's planned $335 million purchase of the casual dining chain following what the investors characterized as an inadequate sales process.

The stockholder class action brought by lead plaintiff Larry Patterson claims that Tennessee-based Ruby Tuesday and its directors, including board chairman Stephen Sandove and president and CEO James F. Hyatt II, violated the Securities Exchange Act of...
To view the full article, register now.