The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CCIV, RLX and RKT
NEW YORK, NY / ACCESSWIRE / August 3, 2021 /The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Churchill Capital Corp IV (NYSE:CCIV)
Class Period: January 11, 2021 - February 22, 2021
Lead Plaintiff Deadline: August 30, 2021
The complaint alleges that during the class period Churchill Capital Corp IV made materially false and/or misleading statements and/or failed to disclose that: (1) Lucid was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Learn about your recoverable losses in CCIV: http://www.kleinstocklaw.com/pslra-1/churchill-capital-corp-iv-loss-submission-form?id=18190&from=1
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
Throughout the class period, RLX Technology Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: 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.
Learn about your recoverable losses in RLX: https://www.kleinstocklaw.com/pslra-1/rlx-technology-inc-loss-submission-form?id=18190&from=1
Rocket Companies, Inc. (NYSE:RKT)
Class Period: February 25, 2021 - May 5, 2021
Lead Plaintiff Deadline: August 30, 2021
The complaint alleges that throughout the class period Rocket Companies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Rocket's gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket's Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket's gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company's gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket's Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) as a result of the foregoing, defendants' positive statements about the Company's business operations and prospects were materially misleading and/or lacked a reasonable basis.
Learn about your recoverable losses in RKT: https://www.kleinstocklaw.com/pslra-1/rocket-companies-inc-loss-submission-form?id=18190&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE:The Klein Law Firm
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