Join The RCI Hospitality Holdings (RICK) Securities Class Action Lawsuit

Shamis & Gentile P.A., one of the nation's premier class action law firms specializing in securities fraud cases, is investigating potential claims against RCI Hospitality Holdings, Inc. (RICK)

If you purchased or acquired RCI Hospitality Holdings, Inc. securities between December 15, 2021 and September 16, 2025, you may be eligible to join this class action lawsuit and seek compensation for your losses.

About RCI Hospitality Holdings

RCI Hospitality Holdings manages a portfolio of high cash-flowing nightclubs and restaurants spanning several states, with a notable presence in New York and Florida.

The company operates a variety of adult entertainment nightclubs under multiple brand names, including Rick’s Cabaret, Jaguars Club, Tootsie’s Cabaret, XTC Cabaret, and several others. RCI also manages at least one dance club under the Studio 80 brand.

The Allegations

The lawsuit alleges that RCI Hospitality Holdings and certain executives engaged in a multi-year tax fraud and bribery scheme. Specifically, it is claimed that RCI’s top executives, including CEO Eric S. Langan and CFO Bradley Chhay, orchestrated a plan to avoid paying over $8 million in sales taxes to New York State and New York City.

The alleged scheme reportedly involved bribing a New York State tax auditor with complimentary trips and cash payments at RCI-owned strip clubs.

According to the complaint, these actions took place over several years, from 2010 to 2024, but the class period for affected investors is from December 15, 2021 to September 16, 2025. The executives are accused of falsifying business records to conceal the fraudulent activity and making materially false and misleading statements in public filings about the company’s legal and internal control risks.

On September 16, 2025, the New York State Attorney General announced indictments against RCI and several executives for conspiracy, bribery, and criminal tax fraud. Following this news, RCI’s stock price dropped sharply, falling 16% on September 16, 2025, and then another 10.38% the next day. This significant decline has resulted in substantial losses for investors.

Important Dates

• Class period: December 15, 2021 to September 16, 2025
• Lead plaintiff deadline: November 21, 2025
• Complaint filed: September 21, 2025

Your Rights and Next Steps

If you purchased or acquired RCI Hospitality Holdings securities during the class period, you may have the right to participate in this class action lawsuit. Joining a class action allows investors to seek compensation without having to file individual lawsuits, and it can help level the playing field against large corporations.

To become a lead plaintiff, you must file your motion with the court by the lead plaintiff deadline: November 21, 2025. The lead plaintiff is typically the investor with the largest financial interest in the case and who is also willing to represent the class. However, you do not need to be a lead plaintiff to participate and potentially recover losses; all eligible investors who purchased securities during the class period can join the class action.

Lawyers are ready to help answer your questions and guide you through the process. They can review your transactions, explain your options, and help you understand your rights as an investor.

You May Be Entitled to Compensation

If you suffered financial losses as a result of purchasing RCI Hospitality Holdings securities during the class period, you may be entitled to compensation. By joining the class action, you can seek to recover your losses and hold the company accountable for alleged securities fraud.

To find out if you qualify and to take the next step, complete the below form. Lawyers are available to review your information and help you pursue your claim.