Pomerantz Law Firm Issues Investor Alert on Class Action Against RCI Hospitality Holdings
In a significant development for investors, the Pomerantz Law Firm has alerted those who incurred losses due to their investment in RCI Hospitality Holdings, Inc. regarding a recently filed class action lawsuit. This action seeks to hold the Company accountable for alleged securities fraud and other misconduct. Investors who acquired RCI securities during the designated Class Period have until November 20, 2025, to act as Lead Plaintiff in this case.
The class action challenges a series of actions by RCI and its key executives, which have been described as unlawful business practices. The lawsuit comes on the heels of recent allegations made by New York's Office of the Attorney General, which indicted several top executives at RCI. According to the indictment, executives bribed an auditor from the New York Department of Taxation and Finance in a bid to evade paying more than $8 million in sales taxes that were owed to both the City of New York and the state from 2010 to 2024.
This news had an immediate and drastic impact on RCI’s stock, causing a drop of approximately 24.83%. The Company's shares plummeted from previous highs to a low of $25.80 per share in just two trading sessions following the revelation, highlighting the volatility associated with such allegations.
Pomerantz LLP, a law firm with a strong reputation in the area of corporate and securities class action litigation, has an extensive history of advocating for the rights of investors. Founded by Abraham L. Pomerantz, often referred to as the 'dean of the class action bar', the firm has over 85 years of experience in fighting against securities fraud and protecting investor rights. The firm aims to seek restitution for their clients, achieving substantial damages in many cases throughout its storied history.
The ongoing case against RCI serves as a cautionary tale for investors and underscores the importance of transparency and ethical management in publicly traded companies. Interested investors who were affected by the situation are encouraged to reach out to Pomerantz for more details on how to proceed. Specifically, prospective class members can contact Danielle Peyton at Pomerantz LLP via email or telephone, ensuring to provide their mailing address, phone number, and the number of shares purchased.
For full details and to access the Complaint, affected parties can visit the official Pomerantz website at www.pomerantzlaw.com. As the lawsuit unfolds, investor vigilance and compliance with the stipulated deadlines remain crucial in seeking justice and potential compensation regarding the alleged misconduct that has impacted their financial investments.
The class action challenges a series of actions by RCI and its key executives, which have been described as unlawful business practices. The lawsuit comes on the heels of recent allegations made by New York's Office of the Attorney General, which indicted several top executives at RCI. According to the indictment, executives bribed an auditor from the New York Department of Taxation and Finance in a bid to evade paying more than $8 million in sales taxes that were owed to both the City of New York and the state from 2010 to 2024.
This news had an immediate and drastic impact on RCI’s stock, causing a drop of approximately 24.83%. The Company's shares plummeted from previous highs to a low of $25.80 per share in just two trading sessions following the revelation, highlighting the volatility associated with such allegations.
Pomerantz LLP, a law firm with a strong reputation in the area of corporate and securities class action litigation, has an extensive history of advocating for the rights of investors. Founded by Abraham L. Pomerantz, often referred to as the 'dean of the class action bar', the firm has over 85 years of experience in fighting against securities fraud and protecting investor rights. The firm aims to seek restitution for their clients, achieving substantial damages in many cases throughout its storied history.
The ongoing case against RCI serves as a cautionary tale for investors and underscores the importance of transparency and ethical management in publicly traded companies. Interested investors who were affected by the situation are encouraged to reach out to Pomerantz for more details on how to proceed. Specifically, prospective class members can contact Danielle Peyton at Pomerantz LLP via email or telephone, ensuring to provide their mailing address, phone number, and the number of shares purchased.
For full details and to access the Complaint, affected parties can visit the official Pomerantz website at www.pomerantzlaw.com. As the lawsuit unfolds, investor vigilance and compliance with the stipulated deadlines remain crucial in seeking justice and potential compensation regarding the alleged misconduct that has impacted their financial investments.
Topics Financial Services & Investing）
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