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Case Status:    DISMISSED    
On or around 09/30/2022 (Date of order of final judgment)

Filing Date: June 09, 2021

According to the Complaint, RLX Technology Inc. manufactures and sells vaping products in China.

Plaintiff brings this securities class action on behalf of persons who purchased, or otherwise acquired, RLX American Depositary Shares pursuant or traceable to the F-1 registration statement (including all amendments made thereto) and related prospectus on Form 424B4 (collectively, the “Registration Statement”) issued in connection with RLX’s January 2021 initial public stock offering.

The Complaint alleges that the registration statement and prospectus misstated and/or omitted facts concerning the Company’s then-existing exposure to China’s ongoing campaign to establish a national standard for e-cigarettes, which would bring them into line with ordinary cigarette regulations, and that RLX’s reported financials were not nearly as robust as the offering materials projected, nor were they indicative of future results, and that as a result, investors purchased RLX shares at artificially inflated prices.

Plaintiff filed an amended Complaint on August 4, 2021. On September 1, the Court issued an Order appointing Lead Plaintiffs and Counsel. On November 8, Lead Plaintiffs filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on December 23, 2021.

On September 30, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice. Lead Plaintiffs filed a notice appealing the Court's Dismissal Order and Judgment on October 28.

On December 12, 2023, the Court of Appeals affirmed the District Court's Dismissal Order and Judgment.

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