RLX TECHNOLOGY 24 HOUR DEADLINE ALERT: FORMER LOUISIANA ATTORNEY GENERAL AND KAHN SWICK & FOTI, LLC REMIND INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Deadline in Class Action Lawsuit Against RLX Technology Inc. - RLX
NEW ORLEANS, Aug. 8, 2021 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until August 9, 2021 to file lead plaintiff applications in a securities class action lawsuit against RLX Technology Inc. (NYSE: RLX), if they purchased the Company's American Depository Shares ("ADS") between January 22, 2021 and June 2, 2021, inclusive (the "Class Period") and/or issued in connection with its January 2021 initial public stock offering (the "IPO"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased ADS of RLX and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-rlx/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by August 9, 2021.
About the Lawsuit
RLX and certain of its executives are charged with failing to disclose material information during the Class Period and/or in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company knew, or had information making it foreseeable to know, that China was moving forward on establishing a national standard for e-cigarettes that was likely to affect the Company's performance; (ii) the Company's financials were not as strong as the offering materials projected, nor were they indicative of future results; and (iii) as a result of the foregoing, RLX's statements were materially false and misleading at all relevant times.
The case is Garnett v. RLX Technology Inc., et al, 21-cv-5125.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.