Popular on s4story
- Keepy Uppy™ by Ollyball Wins Prestigious 2025 Influencer Award from Clamour & The Toy Association; Announces Fall 2025 Launch at Target Stores
- Venardi Zurada LLP Offers Legal Support to Families After Deadly Lake Tahoe Boat Capsizing
- Jasmine Farrell Releases New LGBTQ+ Poetry Collection - Rising From the Roots
- K2 Integrity's U.S. and EMEA Teams Recognized in Chambers and Partners 2025 Guides
- Elevated Healing Treatment Centers: Redefining Mental Health Care with Compassionate, Evidence-Based, and Accessible Services
- Holiday Inn Express North Hollywood Burbank Area Announces Conversion to Hampton Inn North Hollywood
- ASI Accelerates iMIS® Innovation by Acquiring CSI's Product Suite and Expert Team
- Lottery.com Inc. Secures $300 Million in Growth Capital, Confirms Nasdaq Compliance & Acquires UAE Sports Incubator Amid High-Profile Brand Exposure
- Anna D. Banks' Street Smart, Money Smart Hits #1 on Amazon Teen & Young Adult New Releases Chart
- Nationally Recognized Hispanic Activist and Businessman, Luis Figueroa, to speak at CPAC Latino 2025, Showcasing Hispanic Leadership in Action
Similar on s4story
- Santa Monica Businesses Push Back on Bus Stop Relocation That Threatens Access and Safety
- The Blue Luna Encourages Local Schools to Take Steps to Enhance Safety for Students and Staff
- Smart Resnse Unveils Smart Resnse(SRMS) Token-Powered AI Orchestration Platform to Revolutionize Multi-Billion Dollar Market
- Cover Girl Finalist Teisha Mechetti Questions Legitimacy of Inked Originals Competition, Demands Transparency
- The World's Largest Green Economic Revolution Emerges as Nature, Tech, and Finance Converge
- Pyro Marketing Opens New Digital Marketing Company to Power Growth for Fitness and Ecommerce Brands
- Dr. John Salerno of Salerno Wellness Introduces Their New Full Body Capsule for Advanced LED Light Therapy Patient Treatments
- Adostics & Genmega Announce the Introduction of A-POD
- LIB and Nidec Rejoin Forces for Giant TH-0098 Temperature Humidity Test Chamber
- NASA Collaborative Agreement for Supply of Thin-Film Solar Tech for Orbital Application to Advance Development of Thin-Film PV Power Beaming: $ASTI
RLX ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against RLX Technology, Inc. and Encourages Investors to Contact the Firm
S For Story/10485796
NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased RLX Technology, Inc. (NYSE: RLX) American Depositary Shares ("ADSs") pursuant and/or traceable to the Company's initial public offering conducted on or about January 22, 2021 (the "IPO" or "Offering"). Investors have until August 9, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
RLX Technology purports to be the "No. 1 branded e-vapor company in China," which it also claims is its "largest potential market." In January 2021, as part of RLX Technology's IPO, defendants issued approximately 116.5 million ADS to the investing public at $12 per ADS, raising approximately $1.4 billion in gross proceeds.
The RLX Technology class action lawsuit alleges that the Registration Statement contained untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not misleading. Among other things, the RLX Technology class action lawsuit alleges that the Registration Statement misrepresented and omitted that RLX Technology knew (or had information making it foreseeable to know), at the time of the IPO, that China was working on a national standard for e-cigarettes that would bring them into line with regular cigarette regulations. The RLX Technology class action lawsuit further alleges that RLX Technology knew that its reported financials were not nearly as rosy as the Registration Statement made it seem, nor indicative of future results. By omitting these facts and, for example, representing that the risk of regulation was only a contingent possibility, the RLX Technology class action lawsuit alleges that investors were unable to adequately assess the value of the shares offered in connection with the IPO, and thus purchased their ADSs without material information and to their detriment.
More on S For Story
On or about March 22, 2021, China's Ministry of Industry and Information Technology posted draft regulations confirming that e-cigarettes and new tobacco products would be regulated similar to traditional tobacco offerings. On this news, RLX Technology's ADS price declined nearly 48%.
Then, on June 2, 2021, RLX Technology published its first quarter 2021 financial results, revealing a mere 48% increase in net revenues quarter over quarter, and second quarter guidance suggesting that its gross margin would only "remain steady." On this news, RLX Technology's ADS price fell an additional 9%. By the commencement of this action, RLX Technology's ADSs traded more than 32% below the IPO offering price.
If you purchased RLX ADSs pursuant and/or traceable to the IPO and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
More on S For Story
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Click here to participate in the action.
RLX Technology purports to be the "No. 1 branded e-vapor company in China," which it also claims is its "largest potential market." In January 2021, as part of RLX Technology's IPO, defendants issued approximately 116.5 million ADS to the investing public at $12 per ADS, raising approximately $1.4 billion in gross proceeds.
The RLX Technology class action lawsuit alleges that the Registration Statement contained untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not misleading. Among other things, the RLX Technology class action lawsuit alleges that the Registration Statement misrepresented and omitted that RLX Technology knew (or had information making it foreseeable to know), at the time of the IPO, that China was working on a national standard for e-cigarettes that would bring them into line with regular cigarette regulations. The RLX Technology class action lawsuit further alleges that RLX Technology knew that its reported financials were not nearly as rosy as the Registration Statement made it seem, nor indicative of future results. By omitting these facts and, for example, representing that the risk of regulation was only a contingent possibility, the RLX Technology class action lawsuit alleges that investors were unable to adequately assess the value of the shares offered in connection with the IPO, and thus purchased their ADSs without material information and to their detriment.
More on S For Story
- Emmy-Winning Journalist José Martínez Releases Debut Book Your English is Great, But…
- The Blue Luna Encourages Local Schools to Take Steps to Enhance Safety for Students and Staff
- The Sessions Studios Secures $300 Million Commitment to Launch World-Class Studio and 15-Film Global Slate
- Smart Resnse Unveils Smart Resnse(SRMS) Token-Powered AI Orchestration Platform to Revolutionize Multi-Billion Dollar Market
- Josh and Heidi Follow Up the Much Anticipated and Successful Launch of the "Spreading the Good BUZZ" Podcast with a Personal Request
On or about March 22, 2021, China's Ministry of Industry and Information Technology posted draft regulations confirming that e-cigarettes and new tobacco products would be regulated similar to traditional tobacco offerings. On this news, RLX Technology's ADS price declined nearly 48%.
Then, on June 2, 2021, RLX Technology published its first quarter 2021 financial results, revealing a mere 48% increase in net revenues quarter over quarter, and second quarter guidance suggesting that its gross margin would only "remain steady." On this news, RLX Technology's ADS price fell an additional 9%. By the commencement of this action, RLX Technology's ADSs traded more than 32% below the IPO offering price.
If you purchased RLX ADSs pursuant and/or traceable to the IPO and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
More on S For Story
- Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market
- Cover Girl Finalist Teisha Mechetti Questions Legitimacy of Inked Originals Competition, Demands Transparency
- Author Launches The Starlight Bond Website with Movie Licensing Proposal
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Filed Under: Business
0 Comments
Latest on S For Story
- Former Teacher to Dr. Phil's Critique: "Unschooling Isn't Chaos — It's the Future"
- Heartfelt Dreams Foundation Launches Campaign to Build CHD Hospital
- Radarsign Tackles Intersection Safety with Launch of Grid-Free Solar LED Stop Sign
- Curtis Sergeant's Book The Only One Continues to Equip Christians to Live Fully in by and for God
- Emmy-Winning Journalist José Martínez to Debut Powerful New Book at New York Mobile Film Festival
- Miami Real Estate Agent Drastically Increases Interest In Homes
- Adostics & Genmega Announce the Introduction of A-POD
- LIB and Nidec Rejoin Forces for Giant TH-0098 Temperature Humidity Test Chamber
- Wordeee Publishes Casting Pros to Know: Reality TV Edition by Asjai Lou
- Digi 995 Audiobooks Officially Released: Fans Can Now Listen to the Complete Trilogy
- Heritage at South Brunswick Offers Immediate Townhome Appointments and Special Mortgage Incentive Fast-Moving Sales
- New Children's Book Helps Kids and Parents Navigate Anxiety Together
- New TSA-Compliant Medication Packing Tool Helps Travelers Avoid Airport Delays and Customs Issues
- Wordeee Publishes Am I a Weed? by Margie Stiles
- NASA Collaborative Agreement for Supply of Thin-Film Solar Tech for Orbital Application to Advance Development of Thin-Film PV Power Beaming: $ASTI
- Sci-Fi Novel from Pittsburgh Author Explores Love, Power, & Humanity in an Age of Artificial People
- Exciting New Era of Sports, Entertainment & Gaming Innovation Spotlighted by Rebrand of Expanding AI Driven, Online Fan Engagement Company: SEGG Media
- Service Ninjas Debuts First-of-Its-Kind "Membership" Platform for Home Service Pros
- The Journey of BECOMING the Soul Alchemist — New Book by Kay Sanders Guides Readers to Deep Inner Transformation
- BIYA Forecasts 2025 Surge with ¥300M ($41.8 M USD) in Revenue and ¥25M Profit from Cloud Based HR Solutions: Baiya Intl. Group (N A S D A Q: BIYA)