NEW YORK, June 20, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of RCI Hospitality Holdings, Inc. ("RCI" or the "Company") (NASDAQ: RICK). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether RCI and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 11, 2018, RCI announced in a U.S. Securities and Exchange Commission ("SEC") filing that the Company could not timely file its annual report due to "delays in completing the audit of its financial statements for the year ended September 30, 2018." On this news, RCI's stock price fell $1.37 per share, or approximately 6%, to close at $22.33 per share on December 12, 2018.
Then, on May 10, 2019, RCI announced 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 about the Company in mid- and late 2018. On this news, RCI's stock price fell $1.67 per share, or over 7%, to close at $20.48 per share on May 13, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP