RLX INVESTOR ALERT: Kaplan Fox Announces Investigation of RLX Technology Inc.

NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of RLX Technology Inc. (“RLX” or the “Company”) (NYSE: RLX), a company that purports to be the “No. 1 branded e-vapor company in China.” A class action securities lawsuit has been filed on behalf of investors who purchased, or otherwise acquired, RLX American Depository Shares (“ADSs”) pursuant or traceable to the offering documents for the Company’s January 2021 initial public offering (“IPO”).

In January 2021, RLX conducted its IPO, selling approximately 116.5 million ADSs at $12 per ADS for gross proceeds of nearly $1.4 billion. The complaint alleges that the IPO offering documents 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.

On or about March 22, 2021, about eight weeks after RLX’s IPO, China’s Ministry of Industry and Information Technology posted draft regulations confirming that e-cigarettes and new tobacco products would be regulated similarly to traditional tobacco offerings.

Following this news, the price of RLX’s ADSs declined by $9.31 per ADS to close at $10.15 per ADS on March 22, 2021, nearly 48% lower than the previous close of $19.46 per ADS on March 19, 2021, the previous trading day.

If you are a member of the proposed Class, you may move the court no later than August 9, 2021 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(646) 315-9003
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com

Laurence D. King
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com