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Ruby Tuesday Shareholders Upset Over Merger Bid - (via NewsPoints Desk)

October 16, 2017
Tags: NewsPoints Ruby Tuesday NRD United States Corporate Affairs Mergers & Acquisitions

Ruby Tuesday, Inc. shareholders are upset with the offer price and are attempting to block the $335 million purchase of the company by private equity firm NRD Capital.
The shareholders accuse Ruby’s board of breach of fiduciary duties, arguing that the purchase price is insufficient in light of the company's growth prospects and that deal-protection clauses in the merger agreement preclude other companies from submitting successful competing offers. In addition, shareholders
allege that Ruby senior management may have received personal benefits for their own self interests in agreeing to sell the company that are not being shared by common stockholders.

Ruby did not immediately respond to requests for a comment.

To contact the law firm on behalf of shareholders of
Ruby for more information call toll free 800.511.7037 or [e-mail]