RCI Hospitality (US:RICK) Prnewswireยท2025-09-26 23:48Core Viewpoint - A class action lawsuit has been filed against RCI Hospitality Holdings, Inc. for allegations of tax fraud and bribery, leading to significant stock price declines following the announcement of these allegations [2][3]. Group 1: Allegations and Legal Actions - The lawsuit claims that RCI Hospitality Holdings, Inc. engaged in tax fraud and bribery to conceal this fraud, resulting in an understatement of the legal risks faced by the company [2]. - On September 16, 2025, New York State Attorney General Letitia James announced indictments against executives of RCI for a multimillion-dollar tax fraud scheme and bribery, causing RCI's stock to drop by $5.53 (16%) to $28.79 per share on the same day [2]. - The following day, RCI's stock fell further by $2.99 (10.38%), closing at $25.80 per share [2]. Group 2: Class Action Participation - Shareholders of RCI Hospitality Holdings, Inc. who wish to serve as lead plaintiffs in the class action must submit their papers by November 20, 2025 [3]. - Participation in the class action is not required to be eligible for recovery; shareholders can choose to remain absent class members [3]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders will not incur any fees or expenses for representation [4]. - Robbins LLP has a history of advocating for shareholder rights and aims to help recover losses and improve corporate governance [4].