Ruby Tuesday executives fired back Monday against lawsuits alleging they didn’t get the best price for the company – not with a court filing, but in a news release criticizing one alternative offer.
The Maryville, Tenn.-based restaurant chain announced plans in mid-October to sell out to NRD Capital, an Atlanta private equity firm. But, in November, at least eight shareholders filed class action suits to stop the sale, arguing the company failed to pursue better offers from other buyers.
On Monday, Ruby Tuesday announced it had received Dec. 12 another “highly-conditional and not fully-financed proposal” from one of those putative buyers: the Boaz Group LLC, headed by La-Van Hawkins.
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