RLX Technology Inc
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Case Summary | |
Company Name: | RLX Technology Inc |
Stock Symbol : | NYSE: RLX |
Class Period Start: | 01/01/1970 |
Class Period End: | 01/01/1970 |
Lead Plaintiff motion: | 08/09/2021 |
Date Filed: | 06/10/2021 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Southern District of New York |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the June 18, 2021.lead plaintiff deadline in a class action lawsuit filed against RLX Technology Inc. (NYSE: RLX) (RLX Technology Inc. or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased RLX Technology Inc. securities pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering (“IPO”) on or about January 22, 2021 (“Class Period”), have until August 9, 2021 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased RLX Technology Inc. securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
RLX purports to be the “No. 1 branded e-vapor company in China,” which it also claims is its “largest potential market.” RLX conducted its IPO in New York, and its ADS are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “RLX.”
In January 2021, as part of RLX’s IPO, Defendants issued approximately 116.5 million ADS to the investing public at $12 per ADS, all pursuant to the Registration Statement.
According to the lawsuit, the offering documents misstated and/or omitted facts concerning the Company’s then-existing exposure to China’s ongoing campaign to establish a national standard for e-cigarettes, which would bring them in line with traditional tobacco offerings such as ordinary cigarette regulations, and that RLX’s reported financials were not nearly as robust as the offering documents projected nor were they indicative of future results. When the true details entered the market, the lawsuit claims that investors suffered damages. |