Kuznicki Law PLLC 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. , if they purchased the Company’s American Depository Shares (“ADS”) issued in connection with its January 2021 initial public stock offering (the “IPO”).
RLX and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company knew, or had information making it foreseeable to know, that China was moving forward on establishing a national standard for e-cigarettes that was likely to affect the Company’s performance; (ii) the Company’s financials were not as strong as the offering materials projected, nor were they indicative of future results; and (iii) as a result of the foregoing, RLX’s statements were materially false and misleading at all relevant times.
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.