Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit RLX Technology Inc.

NEW YORK, NY / ACCESSWIRE / June 11, 2021 / Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit filed on behalf of investors holding the American Depository Shares (“ADS”) of RLX Technology Inc. (“RLX” or the “Company”) (NYSE: RLX) from January 19, 2021 to June 9, 2021 (the “Class Period”). The lawsuit filed in the U.S. District Court for the Southern District of New York alleges violations of the Securities Act of 1933.

If you Have purchased RLX securities and / or wish to discuss your statutory rights and options Please visit the RLX class action lawsuit or contact Joseph R. Seidman, Jr. toll-free at (877) 779-1414 or [email protected]

The complaint alleges that the company’s registration statement contained false information about material facts and that it omitted material facts that are both required and necessary under the applicable regulations in order not to mislead the information. Among other things, the registration statement misrepresented and omitted that at the time of the IPO, RLX knew (or had information that was known, if foreseeable) that China was working on a national standard for e-cigarettes that would Bring them in line with regular cigarette regulations. The complaint also alleges that RLX knew that reported financial numbers were not nearly as rosy as the registration statement made it appear, nor did they indicate future results. If these facts were omitted, the ADS buyers could not adequately assess the value of the shares offered in the context of the IPO and therefore bought their ADS without any material information and to their detriment.

When a regulation draft was published by China’s Ministry of Industry and Information Technology on March 22, 2021, the price of RLX shares suffered a huge drop, closing at $ 10.15 per ADS, nearly 48% less than its previous closing price of 19.46 USD per ADS.

The story goes on

When the company released its financial results for the first quarter of 2021 on June 2, 2021, shares of RLX fell again, closing at $ 9.90 per ADS on June 4, 2021, nearly 9% less than on June 3, 2021 $ 10.87 per ADS.

If you want to serve as the lead plaintiff, you must call the court no later than August 9, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in the conduct of the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.

If you Have purchased RLX securities and / or wish to discuss your statutory rights and options please visit https://www.bernlieb.com/cases/rlxtechnologyinc-rlx-shareholder-class-action-lawsuit-fraud-stock-405/apply/ or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or [email protected]

Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been included on the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and on The Legal 500 for ten consecutive years.

ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.

Contact information:

Joseph R. Seidman Jr.
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

SOURCE: Bernstein Liebhard LLP

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