LOS ANGELES, June 11, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of RLX Technology, Inc. (NYSE: RLX) investors that acquired shares in connection with its January 2021 initial public stock offering. Investors have until August 9, 2021 to seek an active role in this litigation.
RLX and certain of its executives are charged with failing to disclose, in its IPO Registration Statement and Prospectus, material information violating federal securities laws.
The alleged misleading and false statements and omissions include, but are not limited to, that: (i) RLX knew, or had information making it foreseeable to know, that China was moving forward in its establishment of a national standard for e-cigarettes, likely to affect RLX performance; (ii) RLX’s financials were not as strong as projected in the offering materials, nor were they indicative of future results; and (iii) RLX’s statements were materially false and misleading at all relevant times, as a result of the foregoing.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 9, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow