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

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·4 min read
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NEW YORK, NY / ACCESSWIRE / June 25, 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 plaintiffs 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.

ARRY Shareholders Click Here: https://www.zlk.com/pslra-1/array-technologies-inc-information-request-form?prid=17191&wire=1
FREQ Shareholders Click Here: https://www.zlk.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?prid=17191&wire=1
RLX Shareholders Click Here: https://www.zlk.com/pslra-1/rlx-technology-inc-loss-submission-form?prid=17191&wire=1

* ADDITIONAL INFORMATION BELOW *

Array Technologies, Inc. (NASDAQ:ARRY)

This lawsuit is on behalf of investors who purchased ARRY: (a) between October 14, 2020, and May 11, 2021, inclusive and (b) pursuant, or traceable, or both, to: (i) the registration statement and prospectus issued in connection with the Company's October 2020 initial public offering; or (ii) the registration statement and prospectus issued in connection with the Company's December 2020 offering; or (iii) any combination of the initial public offering, December 2020 offering, or March 2021 offering.
Lead Plaintiff Deadline: July 13, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/array-technologies-inc-information-request-form?prid=17191&wire=1

Defendants repeatedly and consistently painted a materially misleading picture of the Company's business and prospects that did not reflect rising steel and freight costs. After the October 2020 initial public offering, the December 2020 offering and the March 2021 offering, and subsequent to the class period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook. As a result of Defendants' wrongful acts and omissions and the precipitous decline in the market value of the Company's securities, shareholders have suffered significant losses and damages.

Frequency Therapeutics, Inc. (NASDAQ:FREQ)

FREQ Lawsuit on behalf of: investors who purchased November 16, 2020 - March 22, 2021
Lead Plaintiff Deadline: August 2, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?prid=17191&wire=1

According to the filed complaint, during the class period, Frequency Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: the Company's Phase 2a trial results failed to live up to the Company's expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322's potential. These statements materially misled the market and artificially inflated the value of Frequency's common stock.

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=17191&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.

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/653175/CLASS-ACTION-UPDATE-for-ARRY-FREQ-and-RLX-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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