BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased RCI Hospitality Holdings, Inc. (“RCI” or the “Company”) (NASDAQ: RICK) securities between December 15, 2021 and September 16, 2025, inclusive (the “Class Period”). RCI investors have until November 20, 2025 to file a lead plaintiff motion.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN RCI HOSPITALITY HOLDINGS, INC. (RICK), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [email protected], by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
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.
Contact Us to Participate or Learn More:
If you purchased RCI securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith
3070 Bristol Pike, Suite 112
Bensalem, Pennsylvania 19020
Telephone: (215) 638-4847
Email: [email protected]
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
