After months of calling on St Louis (USA) based Larson Financial Holdings to dump its shares in strip club company RCI Hospitality Holdings, we finally got a response – and it was positive!
We commented on CEO Paul Larson’s LinkedIn post which highlighted the company’s support of vulnerable women and girls in Tanzania. We said we thought Paul would have more credibility in his support for women and girls if his company was not also propping up and profiting from sexual exploitation via strip club shares.
Paul responded shortly after to thank us for bringing the matter to his attention and advised that he would look into it personally. He later explained that “a new client came over to one of our branch offices with this stock and we have informed them today they need to sell the position to remain a client.” Paul also said RCI Hospitality Holdings was already on Larson’s “no buy” list.
We appreciated Paul's transparency and commended him for taking action. We said we hoped his company could tighten up their processes to stop investment in sexploitation from happening again.
Another Christian investor exposed
In November, we celebrated a win when Alabama-based Aptus Capital Advisors quietly divested from strip clubs after months of calling on them to dump RCIHH shares.
Update: Aptus Capital sells out of criminal strip club co RCI Hospitality Holdings $rick
— LSKennedy (@LSKennedy5) November 7, 2024
Is this permanent @DrawdownPatrol @jdgardner251? And are you committed to not prop up or profit from sexual exploitation of women again? #divest #sexploitationstock https://t.co/ZF1vLGbNeI pic.twitter.com/TlCnkYIm6f
Aptus has ties to Christian charity, Anonymous Agape. We said the investments were inconsistent with Aptus' other corporate activities and claims. We are watching to make sure they don't (as others have) buy back into strip clubs.
We will also continue to call on investors - particularly faith based and ESG focused firms - to stop investing in sexploitation.
Read about our most successful year yet in our 2024 Wins + Highlights blog here.
See also
Mega pimp RCI Hospitality Holdings faces venue shutdowns for prostitution crimes.
Add your comment