RICK - Update in Lawsuit for Investors in RCI Hospitality Holdings Inc. (NASDAQ:RICK) Shares Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / April 13, 2021 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in RCI Hospitality Holdings, Inc. (NASDAQ:RICK) shares.

Investors, who purchased shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) in February 2018 or earlier and continue to hold NASDAQ: RICK shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On May 31, 2019, a lawsuit was filed against RCI Hospitality Holdings, Inc. over alleged violations of Securities Laws. The plaintiff alleged that the defendants failed to disclose to investors that the Company engaged in numerous transactions with the CEO, including lending him significant sums of money, that these practices were reasonably likely to lead to regulatory scrutiny of the Company, that, as a result of investigations into the Company's governance, the Company would be unable to timely file its financial statements, and that, 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 February 24, 2020, an amended complaint was filed and on April 24, 2020, the defendants filed their motion to dismiss the amended complaint.

Those who purchased RCI Hospitality Holdings, Inc. (NASDAQ:RICK) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.