Thieler Law Corp advises investors with losses exceeding $100,000 of the July 22, 2019 lead plaintiff deadline in a class action lawsuit filed against RCI Hospitality Holdings Inc (NASDAQ: RICK) (“RCI” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of Texas and investors, who purchased RCI Hospitality Holdings Inc securities between August 10, 2017 and May 10, 2019, have until July 22, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased RCI Hospitality Holdings Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the company engaged in numerous transactions with the CEO, including lending him significant sums of money; these practices were reasonably likely to lead to regulatory scrutiny of the company; as a result of investigations into the company’s governance, the company would be unable to timely file its financial statements; and as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

On December 11, 2018, the Company revealed that it could not timely file its annual report with the SEC due to "delays in completing the audit of its financial statements for the year ended September 30, 2018."

Following this news, NASDAQ: RICK fell from $23.73 per share on December 11, 2018 to a closing price of $22.36 on December 12, 2018.

On May 10, 2019, the Company revealed that it could not timely file its quarterly report with the SEC for the period ended March 31, 2019 due to pending investigations concerning negative articles published in mid- and late 2018 about the Company.

Following this news, NASDAQ: RICK fell from $22.15 per share on May 10, 2019 to a closing price of $20.48 on May 13, 2019.

If you were negatively impacted by your investment in RCI Hospitality Holdings Inc securities between August 10, 2017 and May 10, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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