A securities class action has been filed against Futu Holdings Limited in the U.S. District Court for the Southern District of New York on behalf of investors who purchased or acquired Futu securities between May 24, 2023 and May 27, 2026. The complaint, captioned Tang v. Futu Holdings Limited, alleges Futu made false or misleading statements and omitted material facts about its compliance with China Securities Regulatory Commission requirements, including allegations that it conducted securities, public fund sales and futures business in mainland China without required licenses or approval. The suit alleges Futu was therefore likely to face regulatory penalties, including disgorgement and other sanctions, and that its financial results were overstated. The filing also points to May 2026 disclosures, including a Reuters report on a CSRC-led crackdown and Futu's disclosure of proposed penalties totaling about RMB1.85 billion, after which Futu shares fell 27.5% on May 22, 2026 and another 4.8% on May 28, 2026. Investors have until August 25, 2026 to apply to be appointed lead plaintiff.