Lawsuit filed for Investors in shares of RLX Technology Inc. (NYSE: RLX)

An investor, who purchased shares of RLX Technology Inc. (NYSE: RLX), filed a lawsuit over alleged violations of Federal Securities Laws by RLX Technology Inc. in connection with RLX’s January 2021 initial public offering (“IPO”)

Investors who purchased shares of RLX Technology Inc. (NYSE: RLX) have certain options and for certain investors are short and strict deadlines running. Deadline: August 9, 2021. NYSE: RLX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

China based RLX Technology Inc., together with its subsidiaries, researchers, develops, manufactures, distributes, and sells e-vapor products in the People's Republic of China. On or about January 22, 2021, RLX Technology Inc. (NYSE: RLX) went public issuing over 116 million American Depository Shares (ADS) at $12 per ADS (the "Offering Price"), generating gross proceeds of nearly $1.4 billion.

Since then shares of RLX Technology Inc. (NYSE: RLX) declined to as low as $7.89 per share on March 24, 2021.

The plaintiff claims that the registration statement and prospectus used to effectuate the Company’s IPO misstated and/or omitted facts concerning the Company’s then-existing exposure to China’s ongoing campaign to establish a national standard for e-cigarettes, which would bring them into line with ordinary cigarette regulations, and that RLX’s reported financials were not nearly as robust as the offering materials projected, nor were they indicative of future results.

Those who purchased shares of RLX Technology Inc. (NYSE: RLX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.