NEW YORK, July 10, 2021 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors in RLX Technology Inc. (âRLXâ or the âCompanyâ) (NYSE: RLX). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether RLX and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
In January 2021, RLX completed its initial public offering (âIPOâ), selling approximately 116.5 million US depository shares, priced at $ 12.00 by ADS, for a gross product of nearly $ 1.4 billion. Then, on or around March 22, 2021, from China The Ministry of Industry and Information Technology released draft regulations confirming that electronic cigarettes and new tobacco products, including product offerings from RLX, would be regulated in the same way as offerings from traditional tobacco.
On this news, the RLX share price fell $ 9.31 per share, or 47.84%, to close at $ 10.15 per share on March 22, 2021.
The Pomerantz firm, with offices in new York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate law, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext 7980
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SOURCE Pomerantz LLP