Kessler Topaz Meltzer & Check, LLP Announces Class Action Lawsuit Has Been Filed Against RLX Technology Inc.

RADNOR, PA / ACCESSWIRE / June 26, 2021 / Law firm Kessler Topaz Meltzer & Check, LLP reminds investors that RLX Technology Inc. (NYSE: RLX) (“RLX”) is bringing a class action lawsuit for securities fraud on behalf of those who have bought or acquired RLX American Depository Shares (“ADS”) ) pursuant to RLX’s initial public offering in January 2021 (the “IPO”).

Lead plaintiff deadline: August 9, 2021

Website: https://www.ktmc.com/rlx-technology-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=rlx_technology

Contact: James Maro, Esq. (484) 270-1453

Adrienne Bell, Esq. (484) 270-1435

Toll Free (844) 887-9500

RLX claims to be the “No. 1 Branded E-Vapor Company in China” which is also its “Biggest Potential Market”. On January 22, 2021, defendants set the IPO at $ 12 per ADS and filed the final prospectus for the IPO, which is part of the registration statement.

On June 2, 2021, RLX released its financial results for the first quarter of 2021, announcing an increase in net sales of just 48% over the previous quarter. Following this news, shares of RLX fell, closing at $ 9.90 per ADS on June 4, 2021, a decrease of nearly 9% from the June 3, 2021 closing price of $ 10.87 per ADS. Before the litigation began, RLX’s shares were trading at just $ 7.89 per ADS, which is more than 32% below its IPO price.

RLX investors can no later than August 9, 2021, seek to be appointed as lead class agent through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in the conduct of the dispute. To be appointed as a lead plaintiff, the court must determine that the class plaintiff’s claim is typical of the claims of other class plaintiffs and that the class plaintiff is adequately representing the class action. Your ability to participate in a recovery will not be affected by whether or not you will be the lead plaintiff.

The story goes on

Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of state and federal laws. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform and has collected billions of dollars on behalf of institutional and private investors from the US and around the world. The firm represents investors, consumers and whistleblowers (individuals who report fraudulent practices to the government and participate in recovery of government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topas Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 König-von-Preußen-Strasse
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE: Kessler Topas Meltzer & Check, LLP

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