Jakubowitz Law has announced a securities fraud class-action suit on behalf of Ocugen Inc (NASDAQ: OCGN), RLX Technology Inc (NYSE: RLX), and Contextlogic Inc (NASDAQ: WISH).
Ocugen investigated for false information regarding EUA.
Ocugen has a lead plaintiff deadline of August 17, 2021, for the class period between February 2, 2021, and June 10, 2021. According to the filed complaint, Ocugen made materially false and misleading statements or failed to disclose that the information submitted to the FDA was inadequate to support a EUA. Equally, the company failed to disclose that it will not be filling a EUA. As a result of the foregoing, its financial statements and the defendant’s statement’s regarding the company’s operations, and prospects were misleading and false and lacked a reasonable basis.
RLX didn’t disclose information regarding its IPO
The lawsuit against RLX Technologies is on behalf of investors who acquired RLX’s American Depositary Shares traceable to documents issued in relation to RLX’s January 2021 IPO. The lead plaintiff deadline is August 9, 2021. The complaint claims that defendants made materially false and misleading statements and didn’t disclose the RLX’s then-existing exposure to China’s ongoing efforts to create a national standard for e-cigarettes, bringing them in line with ordinary cigarette regulations. Also, RLX’s reported financials were not as solid as the offering materials predicted, and they were not indicative of future results. As a result, investors paid artificially inflated prices for RLX shares.
Contextlogic overstated its MAUs
Contextlogic is under probe regarding its December 16, 2020, IPO. Jakubowitz filed the complaint on behalf of people who bought WISH shares connected to the IP and between December 16, 2020, and May 12, 2021. The company is accused of overstating its monthly active users and growth trends.