May 02, 2016 17:58 ET

| Source: Rigrodsky & Long, P.A.

WILMINGTON, Del., May 02, 2016 (GLOBE NEWSWIRE) — Rigrodsky & Long, P.A.:

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Ruby Tuesday, Inc. (“Ruby Tuesday” or the “Company”) (NYSE:RT) between July 24, 2015 and April 7, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Ruby Tuesday during the Class Period, or purchased shares prior to the Class Period and still hold Ruby Tuesday, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to [email protected]; or at: http://rigrodskylong.com/investigations/ruby-tuesday-inc-rt-lawsuit.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on April 7, 2016, after the market closed, the Company issued a press release entitled, “Ruby Tuesday, Inc. Reports Fiscal Third Quarter 2016 Financial Results.”  In the release, citing a “volatile period affected by weather, softness in the casual dining industry, and increased promotional activity by our peers,” the Company shocked investors by lowering its guidance for fiscal 2016 to $0.05 to $0.08 (vs. $0.12 to $0.17 previously).

On this news, shares of Ruby Tuesday dropped over 11%, closing at $4.60 per share on April 8, 2016, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than June 28, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.