Chinese Vaping Company Concealed Risk Before $1.4B IPO, 2nd Circuit Told

Mealey's (June 5, 2023, 1:29 PM EDT) -- NEW YORK — Three Chinese vaping company investors in a June 2 reply brief tell the Second Circuit U.S. Court of Appeals that the dismissal of their putative securities class action against the company should be reversed, asserting that they adequately alleged that the company made misleading statements about the Chinese government’s planned regulatory scheme for e-cigarettes that led them to overestimate its financial prospects before a $1.4 billion initial public offering (IPO)....