HOUSTON, May 31, 2019 /PRNewswire/ -- A class action
lawsuit has been filed on behalf of investors of RCI Hospitality
Holdings (NASDAQ: RICK). Shareholders who purchased at least 1,000
shares of RICK stock between February 14,
2018 and May 10, 2019, and are
interested in learning about participating as a lead plaintiff in
the lawsuit, are encouraged to contact the Thornton Law Firm at
shareholder@tenlaw.com, or call 617-531-3917 to discuss their
rights.
Investors interested in serving as a lead plaintiff have until
July 22, 2019 to apply. The lawsuit
alleges violations of the federal securities laws, and the class
has not yet been certified. Until certification occurs, you are not
represented by an attorney. If you choose to take no action, you
can remain an absent class member.
According to the lawsuit, RCI made misleading statements, as
well as failed to disclose material adverse facts about the
Company's business and operations. Specifically, RCI allegedly
failed to disclose to investors that: (1) the Company engaged in
numerous transactions with the CEO, including lending him
significant sums of money; (2) these practices were reasonably
likely to lead to regulatory scrutiny; (3) as a result of
investigations into the Company's governance, the Company would be
unable to timely file its financial statements; and (4) Defendants'
positive statements about the Company's business were misleading or
lacked a reasonable basis. As the news about RCI's alleged
misstatements was revealed, RCI's stock price fell over
$3.00 a share.
If you purchased at least 1,000 shares of RCI Hospitality stock
(NASDAQ: RICK) between February 14,
2018 and May 10, 2019, and are
interested in learning about serving as a lead plaintiff, please
contact the Thornton Law Firm's shareholder rights team at
shareholder@tenlaw.com, or call 617-531-3917. All communications
will be treated in a confidential manner.
Thornton Law Firm's securities attorneys specialize in
representing individual shareholders and institutional investors in
recovering damages caused by corporate wrongdoing or fraud. Its
attorneys have decades of experience litigating securities cases in
courts throughout the country and have a proven track record of
recovering losses on behalf of shareholders.
This press release may be considered Attorney Advertising in
some jurisdictions. Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
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SOURCE Thornton Law Firm LLP