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NEW YORK, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds purchasers of securities of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) (“RCI”) between December 15, 2021 and September 16, 2025, both dates inclusive (the Class Period), of the important November 20, 2025 lead plaintiff deadline. PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION RCI owns and operates strip clubs around the United States. Defendants failed to disclose that: (1) defendants engaged ...

Core Viewpoint - Rosen Law Firm is encouraging investors of RCI Hospitality Holdings, Inc. to secure legal counsel before the November 20, 2025 deadline for a securities class action lawsuit [1][2]. Group 1: Class Action Details - The class action pertains to securities purchased between December 15, 2021, and September 16, 2025, and investors may be entitled to compensation without upfront fees [1][2]. - A lead plaintiff must be appointed by November 20, 2025, to represent other class members in the litigation [3]. Group 2: Legal Representation - Investors are advised to choose qualified legal counsel with a proven track record in securities class actions, as many firms may lack the necessary experience [4]. - Rosen Law Firm has a history of significant settlements, including the largest securities class action settlement against a Chinese company and has recovered hundreds of millions for investors [4]. Group 3: Allegations Against RCI Hospitality - The lawsuit alleges that RCI Hospitality's defendants made materially false statements and failed to disclose tax fraud and bribery, which understated the legal risks faced by the company [5]. - The misleading statements about the company's business and operations led to investor damages when the truth was revealed [5].

Core Viewpoint - RCI Hospitality Holdings, Inc. is facing a class action lawsuit due to allegations of bribery and tax fraud, which has significantly impacted its stock price [1][3]. Allegations - The lawsuit claims that RCI executives engaged in tax fraud and bribery to conceal this fraud, leading to an understatement of the legal risks associated with the company [3]. - Following the announcement of the indictment by New York State Attorney General Letitia James, RCI's stock price dropped by $5.53 (16%) to close at $28.79 on September 16, 2025, and further fell by $2.99 (10.38%) to close at $25.80 on September 17, 2025 [3]. Class Action Participation - Shareholders interested in participating as lead plaintiffs in the class action must submit their papers by November 20, 2025, but they can also remain absent class members without taking action [4]. - The representation in the class action is on a contingency fee basis, meaning shareholders will not incur any fees or expenses [5].

Core Points - A class action lawsuit has been filed against RCI Hospitality Holdings, Inc. for alleged tax fraud and bribery [1][2] - The lawsuit claims that the company failed to disclose its involvement in tax fraud and bribery, which led to an understatement of legal risks [2] - Following the announcement of the indictment of company executives, RCI's stock price dropped significantly, falling 16% on September 16, 2025, and an additional 10.38% the following day [2] Summary by Sections Allegations - RCI Hospitality Holdings, Inc. is accused of engaging in tax fraud and bribery to conceal this fraud [2] - The New York State Attorney General announced the indictment of RCI executives for a multimillion-dollar tax fraud scheme [2] Stock Impact - On September 16, 2025, RCI's stock price fell by $5.53, or 16%, closing at $28.79 [2] - The following day, the stock price decreased by $2.99, or 10.38%, closing at $25.80 [2] Class Action Participation - Shareholders can participate in the class action and must submit their papers by November 20, 2025, to serve as lead plaintiff [3] - Shareholders are not required to participate in the case to be eligible for recovery [3]

Core 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].

Core 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]. Group 1: Allegations and Impact - The lawsuit claims that RCI Hospitality Holdings engaged in tax fraud and bribery to conceal this fraud, resulting in an understatement of the legal risks faced by the company [2]. - Following the announcement by New York State Attorney General Letitia James regarding the indictment of RCI executives, the stock price dropped by $5.53, or 16%, closing at $28.79 on September 16, 2025, and fell further by $2.99, or 10.38%, to $25.80 on September 17, 2025 [2]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs in the class action must submit their papers by November 20, 2025, although participation is not required to be eligible for recovery [3]. - Individuals can choose to remain absent class members if they do not wish to take action [3]. Group 3: Legal Representation - All representation in the class action is on a contingency fee basis, meaning shareholders will not incur any fees or expenses [4]. - Robbins LLP, the firm leading the class action, has a history of advocating for shareholder rights and holding company executives accountable since 2002 [4].

Core Viewpoint - Johnson Fistel, PLLP is investigating potential claims on behalf of investors of RCI Hospitality Holdings, Inc. due to possible violations of federal securities laws, which may allow investors to recover losses from alleged misconduct by the company and its executives [1] Company Summary - On September 16, 2025, the New York Attorney General announced 79 charges against RCI Hospitality Holdings, five of its executives, and three of its Manhattan-based strip clubs, including conspiracy, bribery, and criminal tax fraud related to an alleged decade-long scheme to bribe a government tax auditor to avoid over $8 million in sales tax [3] - The indictment claims that RCI executives provided the auditor with trips, cash, and other benefits in exchange for favorable settlements on sales tax audits, with one instance reducing a $3 million tax liability to just $350,000 [3] - Following the announcement of the charges, RCI Hospitality's shares fell as much as 16% during regular trading, reaching their lowest level in over five years, and declined an additional 4.5% in after-hours trading [3]

Core Viewpoint - RCI Hospitality Holdings Inc is facing a 79-count indictment related to an alleged multimillion-dollar tax fraud and bribery scheme involving the company, its executives, and its Manhattan strip clubs [1][4]. Summary by Sections Allegations and Charges - From 2010 to 2024, RCI executives allegedly bribed a New York state tax auditor to evade over $8 million in sales taxes, using cash, free trips, and entertainment at company-owned clubs, falsely recorded as "promotional" expenses [2]. - The company is accused of failing to pay sales tax on its in-house currency, "Dance Dollars" [2]. - Key executives indicted include CEO Eric Langan and CFO Bradley Chhay, facing charges of conspiracy, bribery, and criminal tax fraud [3]. Investigation Findings - The investigation revealed that Langan personally supervised negotiations with the auditor and approved bribe payments [3]. - The auditor reportedly received at least 13 complimentary trips to Florida, with payments of up to $5,000 per day for private dances at RCI clubs [3]. Impact on Stock - Following the indictment news, RICK shares closed down 15.94% at $28.79, with a 52-week high of $61.66 and a low of $28.00 [5].

Core Points - New York Attorney General Letitia James announced the indictment of five top executives from RCI Hospitality Holdings, including CEO Eric Langan, for their involvement in a multi-million-dollar tax fraud and bribery scheme [2][8] - The scheme allegedly involved bribing a New York state auditor with trips and payments to avoid over $8 million in taxes from 2010 to 2024 [5][6] Group 1: Indictment Details - The executives are accused of providing the auditor with 13 complimentary trips to Florida and payments for private dances at RCI-owned strip clubs [3][5] - RCI's controller, Timothy Winata, allegedly traveled to Manhattan multiple times to deliver illegal bribes at RCI's clubs [4][8] - The indictment includes 79 counts of conspiracy, bribery, and criminal tax fraud against the executives and the three Manhattan clubs [8] Group 2: Financial Impact - Following the announcement of the indictment, RCI's shares dropped nearly 17% in late afternoon trading [8] - The alleged tax evasion involved the sale of "Dance Dollars," which customers purchased for private dances at RCI's strip clubs [5][6] Group 3: Company Response - RCI and the individuals involved deny the allegations and plan to defend themselves against what they describe as overreaching charges [9][10] - RCI has previously disclosed the investigation in its SEC filings and maintains a policy of paying all legitimate taxes [10]