RCI Hospitality announces an agreement to settle in full a New York based federa
"The settlement has been filed for preliminary court approval. Trial was scheduled to begin April 27, 2015 Under terms of the agreement:
RCI Entertainment (New York), Inc. and Peregrine Enterprises, Inc. will make up to $15 million available to class members and their attorneys.
The actual amount paid will be determined based on the number of class members responding by the end of a three-month notice period. Final court approval is expected after the three month notice period. Based on the current schedule, an initial payment will be made in approximately five months, with two subsequent payments of approximately $1.8 million each being made in annual installments."
Should be good for the stock ticker (RICK) to get this behind them.
RCI Entertainment (New York), Inc. and Peregrine Enterprises, Inc. will make up to $15 million available to class members and their attorneys.
The actual amount paid will be determined based on the number of class members responding by the end of a three-month notice period. Final court approval is expected after the three month notice period. Based on the current schedule, an initial payment will be made in approximately five months, with two subsequent payments of approximately $1.8 million each being made in annual installments."
Should be good for the stock ticker (RICK) to get this behind them.
Got something to say?
Start your own discussion
1 comment