CLASS ACTION UPDATE for RLX, HMPT and BLCT: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

·4 min read

NEW YORK, NY / ACCESSWIRE / August 2, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

RLX Shareholders Click Here: https://www.zlk.com/pslra-1/rlx-technology-inc-loss-submission-form?prid=18159&wire=1
HMPT Shareholders Click Here: https://www.zlk.com/pslra-1/home-point-capital-inc-loss-submission-form?prid=18159&wire=1
BLCT Shareholders Click Here: https://www.zlk.com/pslra-1/bluecity-holdings-limited-loss-submission-form?prid=18159&wire=1

* ADDITIONAL INFORMATION BELOW *

RLX Technology Inc. (NYSE:RLX)

This lawsuit is on behalf of persons who purchased, or otherwise acquired, RLX American Depository Shares pursuant or traceable to the documents issued in connection with RLX's January 2021 initial public stock offering.
Lead Plaintiff Deadline : August 9, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rlx-technology-inc-loss-submission-form?prid=18159&wire=1

According to the filed complaint, 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. As a result, investors purchased RLX shares at artificially inflated prices.

Home Point Capital Inc. (NASDAQ:HMPT)

This lawsuit is on behalf of all persons and entities other than Defendants that purchased or otherwise acquired Home Point common stock pursuant and/or traceable to the Company's January 29, 2021 initial public offering.
Lead Plaintiff Deadline : August 20, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/home-point-capital-inc-loss-submission-form?prid=18159&wire=1

According to the filed complaint, (i) Home Point's aggressive expansion of its broker partners would dramatically increase the Company's expenses; (ii) the mortgage industry was anticipating industry-wide decreased gain-on-sale margins as a result of rising interest rates in 2021 and Home Point would be subject to the same competitive pressures; (iii) accordingly, the Company had overstated its business and financial prospects; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.

Bluecity Holdings Limited (NASDAQ:BLCT)

This lawsuit is on behalf of all persons and entities, other than Defendants, who purchased or otherwise acquired BlueCity American Depositary Shares pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about July 8, 2020.
Lead Plaintiff Deadline : September 17, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/bluecity-holdings-limited-loss-submission-form?prid=18159&wire=1

According to the filed complaint, (1) Defendants had overstated BlueCity's business and financial prospects; (2) the Company was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, Defendants had misrepresented the Company's capability for sustainable growth; and (4) as a result, the Offering Documents were materially false or misleading and/or failed to state information required to be stated therein.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/658012/CLASS-ACTION-UPDATE-for-RLX-HMPT-and-BLCT-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting