Lucious must defend Empire's IPO launch after controversies arise around one of his artists being involved in a shooting, and Cookie proves to be invaluable by helping Lucious turn a crisis into a triumph. Competition between Lucious and Cookie heats up when Cookie hears of Lucious's plan to stage a huge performance for Hakeem - but not Jamal. Meanwhile, the police begin to investigate Bunkie's murder.

The Lyons head to Philadelphia and get a taste of what their life could have been if Lucious hadn't made it big. Lucious promotes Hakeem's new relationship with hip-hop star Tianna, but tensions rise when another woman tries to catch Hakeem's eye.