The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of RLX Technology Inc. who purchased American Depository Shares pursuant or traceable to the F-1 registration statement and related prospectus on Form 424B4 issued in connection with RLX’s January 2021 initial public stock offering.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: the Company’s then-existing exposure to China’s ongoing campaign to establish a national standard for e-cigarettes, which would bring them into line with ordinary cigarette regulations, and that RLX’s reported financials were not nearly as robust as the offering materials projected, nor were they indicative of future results. As a result, investors purchased RLX shares at artificially inflated prices.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 9, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.