Lawsuit Alert: Investors who lost money with shares of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) should contact the Shareholders Foundation

An investor, who purchased shares of RCI Hospitality Holdings, Inc. (NASDAQ: RICK), filed a lawsuit over alleged violations of Federal Securities Laws by RCI Hospitality Holdings, Inc.

Investors who purchased shares of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) have certain options and for certain investors are short and strict deadlines running. Deadline: November 20, 2025. NASDAQ: RICK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Houston, TX based RCI Hospitality Holdings, Inc., through its subsidiaries, engages in the hospitality and related businesses in the United States. RCI Hospitality Holdings, Inc. (NASDAQ: RICK) reported that its Total Revenue rose from $293.79 million for the 12 months period that ended on September 30, 2023, to $295.6 million for the 12 months period that ended on September 30, 2024, and that its Net Income over those time periods declined from $29.24 million to $3.01 million.

On September 16, 2025, NYAG James announced that the office indicted RCI Hospitality Holdings, CEO Eric Langan, CFO Bradley Chhay and others. James said "[a]n investigation by the Office of the Attorney General ('OAG') 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 State and the state from 2010 to 2024." The 79 count indictment charges RCI Hospitality Holdings, five of its executives, and three RCI-owned strip clubs in Manhattan with conspiracy, bribery, and criminal tax fraud among other crimes.

On September 16, 2025, Reuters published a report on RCI Hospitality Holdings titled: "Rick's Cabaret parent, executives indicted in New York tax fraud and bribery case." According to the article, "The parent company of Rick's Cabaret and other strip clubs, as well as five executives, have been indicted over their alleged roles in a 13-year bribery scheme to avoid paying millions of dollars in New York sales taxes, state Attorney General Letitia James said on Tuesday."

Shares of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) declined from $97.45 per share on January 12, 2023, to as low as $25.15 per share on September 17, 2025.

The plaintiff claims that between December 15, 2021 and September 16, 2025, the defendants made false and/or misleading statements and/or failed to disclose that the defendants engaged in tax fraud, that the defendants committed bribery to cover up the fact that they committed tax fraud, that as a result, defendants understated the legal risk facing the Company, and that as a result, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times

Those who purchased shares of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.