RCI Hospitality Holdings, Inc., along with two executives, three employees, and three of its clubs, were indicted in New York on state charges. The allegations include non-payment of sales taxes and bribery of a state sales tax auditor.
The company's counsel, Daniel J. Horwitz, stated that RCI, the individuals, and the clubs deny the allegations and will take all necessary action to defend themselves against these charges. There are no allegations that any company executive or employee personally benefited from the alleged charges.
RCI had previously disclosed the New York Attorney General’s investigation in its SEC filings. The company maintains a policy of paying all legitimate and non-contested taxes, and all three New York City clubs remain open for business despite the indictments.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.