NEW YORK, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Kirby McInerney LLP reminds RCI Hospitality Holdings, Inc. (“RCI” or the “Company”) (NASDAQ: RICK) investors of the November 20, 2025 deadline to seek the role of lead plaintiff in a pending federal securities class action.
If you purchased or otherwise acquired RCI securities, have information, or would like to learn more, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the form below, to discuss your rights or interests.
[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 has been filed on behalf of investors who purchased securities during the period of December 15, 2021 through September 16, 2025, inclusive (“the Class Period”). 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.
[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]
Why Kirby McInerney LLP
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.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1171
https://www.kmllp.com
investigations@kmllp.com
