Levi & Korsinsky, LLP
CLASS ACTION UPDATE for JRVR, RLX and BLCT: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / July 20, 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.
JRVR Shareholders Click Here: https://www.zlk.com/pslra-1/james-river-group-holdings-ltd-information-request-form?prid=17821&wire=1
RLX Shareholders Click Here: https://www.zlk.com/pslra-1/rlx-technology-inc-loss-submission-form?prid=17821&wire=1
BLCT Shareholders Click Here: https://www.zlk.com/pslra-1/bluecity-holdings-limited-loss-submission-form?prid=17821&wire=1
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James River Group Holdings, Ltd. (NASDAQ:JRVR)
JRVR Lawsuit on behalf of: investors who purchased August 1, 2019 - May 5, 2021
Lead Plaintiff Deadline: September 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/james-river-group-holdings-ltd-information-request-form?prid=17821&wire=1
According to the filed complaint, during the class period, James River Group Holdings, Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) James River had not adequately reserved for its Uber policies; (2) James River was using an incorrect methodology for setting reserves that materially understated the Company's true exposure to Uber claims; (3) as a result, James River was forced to increase its unfavorable reserves in subsequent quarters even after cancelling the Uber policies; and (4) as a result of the foregoing, Defendants' statements about James River's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
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=17821&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.
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=17821&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.
SOURCE: Levi & Korsinsky, LLP
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