Ruby Tuesday, Inc. Issues Statement Regarding Shareholder Intent to Nominate Directors At 2011 Annual Shareholder Meeting
June 03 2011 - 4:19PM
Business Wire
Ruby Tuesday, Inc. (NYSE:RT) issued the following statement in
response to being notified by affiliates of Becker Drapkin
Management, L.P. of their intention to nominate three directors for
election to Ruby Tuesday’s Board of Directors at the Company’s 2011
Annual Meeting of Shareholders:
“Becker Drapkin Management, L.P., in conjunction with Carlson
Capital, L.P. and their respective affiliates, have formed a group
that has indicated beneficial ownership of approximately 5.6% of
the Company’s outstanding shares as of June 1, 2011. Becker Drapkin
has notified the Company that it intends to nominate a slate of
three individuals for election to the Company’s Board of Directors
at the Company’s 2011 annual meeting.
Our Board of Directors and management team are committed to
maximizing the long-term value of our Company for the benefit of
all of our shareholders and are always open to hearing the views
and opinions of shareholders as to how the Board and management can
continue to create such value.
The Company’s shareholders are not required to take any action
at this time with respect to Becker Drapkin’s nominees or
otherwise. The Company and the Board of Directors will provide
additional information regarding the 2011 Annual Meeting of
Shareholders at the appropriate time.”
About Ruby Tuesday
Ruby Tuesday, Inc. has Company-owned and/or franchise Ruby
Tuesday brand restaurants in 46 states, the District of Columbia,
15 foreign countries, and Guam. As of March 1, 2011, the Company
owned and operated 742 Ruby Tuesday restaurants, while domestic and
international franchisees (including Hawaii and Guam) operated 56
and 57 restaurants, respectively. Ruby Tuesday, Inc. is traded on
the New York Stock Exchange (NYSE: RT). For more information, visit
www.rubytuesday.com.
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