PHILADELPHIA and CLEVELAND, July 5, 2021 /PRNewswire/ — The investor rights attorneys at Goldman Scarlato & Penny, PC law firm (“GSP”) are evaluating potential claims for compensation on behalf of investors who purchased in RLX Technology Inc. (NYSE: RLX) American Depository Shares (ADSs) in its initial public offering (“IPO”) and suffered losses. The GSP attorneys’ aim is to seek compensation for RLX investors individually, rather than in a class action. Each investor’s situation must be individually evaluated before representation is offered. Institutional investors and family offices may consider individual representation.
RLX Technology is a e-vapor company founded in 2018 and headquartered in China. In January 2021, the company published a Prospectus offering 116,500,000 ADSs approved for listing on the New York Stock Exchange at $12 per ADS.
In March 2021, the Chinese regulators announced restrictions on e-cigarettes and other tobacco products, causing the price per share to decline from a $19.46 per ADS on March 19, 2021, to $10.15 per ADS on March 22, 2021. The price was further affected in June 2021 when RLX reported its first quarter earnings and announced results that disappointed many investors. On June 30, 2021, the price per RLX share was $8.73.
RLX Investors May Be Able to Pursue Individual Claims
Investor rights attorneys Alan Rosca and Paul Scarlato have been investigating certain alleged misrepresentations and omissions by RLX Technology in connection with its IPO and are preparing to take action on behalf of some of the RLX investors and seek compensation for their losses, separately from any pending class action. Investors in RLX interested in filing individual claims may contact attorneys Rosca or Scarlato for a free, no-obligation evaluation of their options at 888-998-0530, [email protected] or by leaving a message on https://investorlawyers.org/rlx-technology-investor-center/.
The GSP investor rights attorneys have decades of combined experience representing investors who lost money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs. There are no fees or costs if no recovery.
Visit https://investorlawyers.org for more information about the firm and GSP attorneys’ background and admissions to practice law. This release may be deemed to include Attorney Advertising. There has been no finding of liability as to the allegations herein. © GSP 2021.
SOURCE Goldman Scarlato & Penny, P.C.