 BENSALEM, Pa.--BUSINESS WIRE--- BLCT CLASSACTION--Law Offices of Howard G. Smith announces an investigation on behalf of BlueCity Holdings Limited BlueCity or the Company NASDAQ: BLCT investors concerning the Companys possible violations of federal securities laws. On December 2, 2020, BlueCity reported its third quarter and fiscal year 2020 results, disclosing, among other results, that the Companys cost of revenues had increased 41.4 year-over-year, selling and marketing expenses had increased 86.3 