Johnson Fistel Investigates RCI Hospitality Holdings Following Indictment

(MENAFN- GlobeNewsWire - Nasdaq) SAN DIEGO, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating potential claims on behalf of investors of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) arising from possible violations of federal securities laws. Investors may be eligible to recover losses stemming from alleged misconduct by the company and its executives.

What if I purchased RCI Hospitality securities?
If you suffered losses, you may be eligible to participate in a class action or seek recovery:

For more information, contact James Baker at (619) 814-4471, ..., or ....

Background:
On September 16, 2025, the New York Attorney General announced 79 charges against RCI Hospitality Holdings, five of its executives, and three of its Manhattan-based strip clubs. The charges include conspiracy, bribery, and criminal tax fraud stemming from an alleged decade-long scheme to bribe a government tax auditor in order to avoid paying more than $8 million in sales tax related to“Dance Dollars.”

According to the indictment, RCI executives provided the auditor with trips, cash, and other benefits in exchange for favorable settlements on sales tax audits. Prosecutors allege that in one instance a $3 million tax liability was reduced to just $350,000. The executives also allegedly falsified records to classify bribes as“promo expenses.”

If convicted, the executives face potential prison sentences ranging from 5 to 25 years, depending on the charges. Following this announcement, shares of RCI Hospitality fell as much as 16% during Tuesday's regular session to their lowest level in more than five years, with the stock declining an additional 4.5% in after-hours trading.

About Johnson Fistel, PLLP:
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in securities class actions and shareholder derivative lawsuits, including foreign investors on U.S. exchanges. In 2024, it was ranked among the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services, recovering approximately $90.7 million for clients where it served as lead or co-lead counsel. For more information, visit

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Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq.
(619) 814-4471
... or ...

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