NEW YORK, June 5, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of RCI Hospitality Holdings, Inc. ("RCI" or the "Company") (NASDAQ: RICK). A complaint has been filed against the Company and certain executives. Investors that purchased RCI securities between August 10, 2017 and May 10, 2019, inclusive (the "Class Period"), may be affected.
On December 11, 2018, the Company filed a Form 12b-25 filing with the Securities and Exchange Commission ("SEC") stating that it could not timely file its Form 10-K for the fiscal year ended September 30, 2018 because "[t]he registrant has experienced delays in completing the audit of its financial statements for the year ended September 30, 2018. . . ."
Following this news, RCI's shares fell $1.37 per share, about 6%, to close at $22.36 per share on December 12, 2018.
Then, on May 10, 2019, RCI filed another Form 12b-25 with the SEC stating that the Company could not timely file its Form 10-Q for the fiscal 2019 second quarter due to an ongoing SEC inquiry and internal review. The filing with the SEC stated, in part, as follows:
In mid- and late 2018, a series of negative articles about the registrant was anonymously published in forums associated with the short-selling community. Subsequently in 2019, the SEC initiated an informal inquiry. In connection with these events, a special committee of the registrant's Audit Committee engaged independent outside counsel to conduct an internal review. The registrant and its management are cooperating with both the internal review and the SEC inquiry. Because the internal review is still ongoing, the registrant will be delayed in filing its Form 10-Q.
Following this news, RCI's shares fell $1.67 per share, over 7.5%, to close at $20.48 per share on May 13, 2019.
If you are a member of the proposed Class, you may move the court no later than July 22, 2019 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing email@example.com or by calling 800-290-1952.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Fax: (212) 687-7714
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
Fax: (415) 772-4707
SOURCE Kaplan Fox & Kilsheimer LLP