NEW YORK, NY / ACCESSWIRE / July 15, 2021 / Klein Law Firm announces that class actions have been filed on behalf of shareholders of the following companies. There is no charge to participate in the lawsuit. If you have suffered prejudice, you have until the principal applicant’s deadline to ask the court to appoint you as the principal applicant.
James River Group Holdings, Ltd. (NASDAQ: JRVR)
Class period: August 1, 2019 – May 5, 2021
Lead applicant’s deadline: September 7, 2021
The complaint alleges that during the period of the action, James River Group Holdings, Ltd. made materially false and / or misleading statements and / or failed to disclose that: (1) James River did not make sufficient reservations for his Uber policies; (2) James River used an incorrect methodology to establish reserves that significantly underestimated the Company’s actual exposure to Uber claims; (3) as a result, James River was forced to increase its unfavorable reserves in subsequent quarters, even after canceling Uber policies; and (4) as a result of the foregoing, the Defendants’ statements regarding the affairs, operations and prospects of James River were materially false and / or misleading and / or lacked reasonable basis.
Learn more about your recoverable losses in JRVR: https://www.kleinstocklaw.com/pslra-1/james-river-group-holdings-ltd-loss-submission-form?id=17669&from=1
RLX Technology Inc. (NYSE: RLX)
This lawsuit is on behalf of those persons who purchased, or otherwise acquired, RLX U.S. Depositary Shares in accordance with or traceable to documents released as part of RLX’s initial public offering in January 2021.
Lead applicant’s deadline: August 9, 2021
Throughout the Class Period, RLX Technology Inc. allegedly made false and / or misleading statements and / or failed to disclose that: the then existing exposure of the company to China’s ongoing campaign to establish a national standard for compliance with ordinary cigarette regulations, and that RLX’s reported financial data was not as strong as the proposed offering documents, nor was it indicative of future results. As a result, investors bought RLX shares at artificially inflated prices.
Learn more about your recoverable losses in RLX: https://www.kleinstocklaw.com/pslra-1/rlx-technology-inc-loss-submission-form?id=17669&from=1
Rocket Companies, Inc. (NYSE: RKT)
Class period: February 25, 2021 – May 5, 2021
Lead applicant’s deadline: August 30, 2021
According to the complaint, Rocket Companies, Inc. allegedly made materially false and / or misleading statements and / or failed to disclose that: (a) Rocket’s earnings on sales margins were contracting at the highest rate in two years due to increased competition among mortgage lenders, an unfavorable move towards the operational segment of the low margin partner network and the compression of the price differential between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its main competitors in the wholesale market, which further squeezed the margins of the operating segment of Rocket’s partner network; (c) the adverse trends identified above were accelerating and, as a result, the margin gain on Rocket’s sales was on track to decline by at least 140 basis points in the first six months of 2021; (d) as a result of the foregoing, the favorable market conditions which preceded the Class Period and allowed Rocket to achieve a historically high gain on selling margins had disappeared while the Company’s gain on margins sales had returned to levels not seen since the first quarter of 2019; (e) instead of remaining high due to strong demand, Rocket’s company-wide selling profit margins have fallen significantly below recent historical averages; and (f) as a result of the foregoing, the defendants’ positive statements about the business activities and prospects of the Company were materially misleading and / or lacked reasonable basis.
Learn more about your recoverable losses in RKT: https://www.kleinstocklaw.com/pslra-1/rocket-companies-inc-loss-submission-form?id=17669&from=1
Your ability to participate in any recovery does not require you to serve as the principal applicant. If you have suffered a loss during the claim period and would like further information, please contact J. Klein, Esq. by phone at 212-616-4899 or visit the web pages provided.
J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud nationwide. Lawyer advertising. Past results do not guarantee similar results.
SOURCE: Klein law firm
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