LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming November 20, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired RCI Hospitality Holdings, Inc. (“RCI” or the “Company”) (NASDAQ: RICK) securities between December 15, 2021 and September 16, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON RCI HOSPITALITY HOLDINGS, INC. (RICK), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On September 16, 2025, the New York Attorney General announced that top executives of RCI had been indicted “for their roles in a major, multimillion dollar criminal tax fraud and bribery scheme.” Specifically, the Company, along with five of its executives, and three of its Manhattan strip clubs, were facing 79 charges, including conspiracy, bribery, and criminal tax fraud stemming from the alleged bribe of a government tax auditor.
On this news, RCI’s stock price fell $5.53, or 15.9%, to close at $28.79 on September 16, 2025, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants engaged in tax fraud; (2) Defendants committed bribery to cover up the fact that they committed tax fraud; (3) as a result, Defendants understated the legal risk facing the Company; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired RCI securities between December 15, 2021 and September 16, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is November 20, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Contact Us:
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
