NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired RCI Hospitality Holdings, Inc. (“RCI” or the “Company”) (NASDAQ:RICK) securities during the period of December 15, 2021 through September 16, 2025, inclusive (“the Class Period”).
If you suffered a loss on your RCI investments, you have until November 20, 2025 to request lead plaintiff appointment. Follow the link below for more information:
[CONTACT THE FIRM IF YOU SUFFERED A LOSS]
What Happened?
On September 16, 2025, New York’s Office of the Attorney General announced the indictment of certain top executives of RCI, alleging that its investigation “revealed that RCI executives bribed an auditor with the New York Department of Taxation and Finance (DTF) to avoid paying over $8 million in sales taxes to New York City and the state from 2010 to 2024.” On this news, the price of RCI shares declined by $5.53 per share, or approximately 16.11%, from $34.32 per share on September 15, 2025 to close at $28.79 on September 16, 2025.
What Is The Lawsuit About?
The lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Defendants engaged in tax fraud; (2) Defendants committed bribery to cover up the fact that they committed tax fraud; and (3) as a result, defendants understated the legal risk facing the Company.
What Should I Do?
If you purchased or otherwise acquired RCI securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
[email protected]
