| COMPANY |
RLX Technology Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
21-cv-05125 |
| JUDGE |
The Honorable Paul A. Engelmayer |
| CLASS PERIOD |
pursuant or traceable to RLX’s January 2021 initial public stock offering |
| SECURITY TYPE |
All Securities |
Case Background:
IRLX claims to be the “No. 1 branded e-vapor company in China,” which it also claims is its “largest potential market.” On January 19, 2021, RLX filed its final amendment to a Form F-1 registration statement (the “Registration Statement”), which registered 133,975,000 RLX ADS for public sale. On January 22, 2021, the defendants priced the IPO at $12 per ADS and filed the final prospectus for the IPO, which forms part of the Registration Statement. Through the IPO, the defendants issued and sold approximately 116,500,000 RLX ADS, all pursuant to the Registration Statement, for gross proceeds of nearly $1.4 billion.
The complaint alleges that the Registration Statement misrepresented and omitted, among other things, RLX’s exposure to China’s then-existing campaign to establish a national standard for e-cigarettes that would bring them into line with regular cigarette regulations.
Current Status of Case:
On September 30, 2022, the Court issued an Order granting Defendants’ Motion to Dismiss. The Lead Plaintiff appealed the Court’s dismissal to the Second Circuit Court of Appeals. On December 12, 2023, the Second Circuit affirmed the Court’s dismissal Order. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.