Class Action Lawsuit Filed Against RCI Hospitality Holdings, Inc. by Levi Korsinsky

Class Action Lawsuit Against RCI Hospitality Holdings, Inc.

On October 17, 2025, Levi & Korsinsky, LLP announced that it is representing investors in RCI Hospitality Holdings, Inc. in a class action lawsuit related to alleged securities fraud. This action could potentially have significant consequences for shareholders who invested between December 15, 2021 and September 16, 2025. The firm, known for its expertise in securities litigation, is notifying affected parties of their right to join the lawsuit before the upcoming deadline of November 20, 2025.

Background of the Lawsuit

This lawsuit stems from allegations that RCI Hospitality Holdings, Inc., which trades on NASDAQ under the ticker symbol RICK, has engaged in corporate misconduct. Specifically, the complaint filed against the company accuses its executives of a range of fraudulent activities, including tax fraud and bribery. Investors claim that these actions led to a significant understatement of legal risks that the company was facing, ultimately misrepresenting the company's operations and prospects.

The class action seeks to recover financial losses incurred by investors who acquired shares during the specified period. It raises concerns about the trustworthiness of RCI's previous disclosures and communication regarding the company's business practices.

Details of the Allegations

According to the complaint, the defendants involved in the case have made false statements or omitted critical facts pertaining to the company's business activities. Here are key points outlined in the suit:

1. Tax Fraud: RCI Hospitality Holdings has allegedly engaged in activities that constitute tax fraud, misleading investors on the company’s financial health.
2. Bribery: The complaint suggests that the company’s executives resorted to bribery to conceal the aforementioned tax violations, complicating the legal landscape for the company further.
3. Misrepresentation: The case claims that RCI's public statements about its business operations lacked a reasonable basis, making them materially false and misleading to investors.

As investigations unfold, the ramifications could be wide-reaching, particularly if regulators decide to pursue charges against the company's leadership. For shareholders, the impending class action lawsuit represents an opportunity to seek recompense for financial losses.

How to Participate in the Class Action

Investors who believe they were affected by the alleged misconduct must act quickly. Those interested in participating in the class action lawsuit have until November 20, 2025, to request to be appointed as lead plaintiff. However, it's worth noting that participating in the lawsuit does not require an investor to take on this role; they can still claim compensation as a class member.

Joining the lawsuit involves no upfront costs or fees, ensuring that all affected shareholders can seek justice without financial barriers. Levi & Korsinsky emphasizes their commitment to representing shareholder interests and has successfully recovered substantial amounts for investors in past cases.

Expertise of Levi & Korsinsky

Levi & Korsinsky is recognized as a leading firm in the realm of securities litigation, having recovered hundreds of millions for shareholders over the past two decades. The team has cultivated extensive experience in navigating complex legal issues related to financial fraud and corporate malfeasance. Their track record includes being consistently ranked among the top securities litigation firms in the United States by ISS Securities Class Action Services.

If you are an investor in RCI Hospitality Holdings, Inc. who suffered losses during the specified timeframe, consider reaching out to Levi & Korsinsky. You can contact Joseph E. Levi, Esq. at [email protected] or call (212) 363-7500 for further assistance.

Conclusion

The class action lawsuit filed against RCI Hospitality Holdings, Inc. serves as a crucial reminder of the importance of transparency and accountability in corporate governance. As the case progresses, it will undoubtedly attract attention from regulators, shareholders, and the public. Keeping an eye on this legal battle may offer insights into broader trends in corporate conduct and securities law that could affect investors alike.