The PRNewswire notice says investors who bought Futu Holdings securities between May 24, 2023 and May 27, 2026 have until August 25, 2026 to seek lead-plaintiff status.
Rosen Law Firm said a securities class action has been filed on behalf of investors who purchased Futu Holdings Limited securities between May 24, 2023 and May 27, 2026. The firm said investors seeking to serve as lead plaintiff must move the Court by August 25, 2026, while other eligible investors may seek compensation through a contingency fee arrangement. The lawsuit alleges Futu and other defendants made materially false and misleading statements, or failed to disclose, that the company was not in compliance with China Securities Regulatory Commission requirements because it continued to conduct securities business, public fund sales business and futures business in mainland China without the required licenses or approval. Rosen Law Firm said the filing further alleges Futu was therefore reasonably likely to face regulatory penalties, including disgorgement of ill-gotten gains and other penalties, that its financial results were overstated, and that positive statements about its business, operations and prospects were materially misleading or lacked a reasonable basis. The notice says investors suffered damages when the alleged true details entered the market. The release also says no class has been certified, meaning investors are not represented by counsel unless they retain one, and that any investor's ability to share in a potential future recovery does not depend on serving as lead plaintiff, the representative party directing the litigation.