Robbins LLP also reminds investors of a filed class action covering Futu securities purchased from May 24, 2023 to May 27, 2026, with an August 25, 2026 deadline to seek lead-plaintiff status.
Robbins LLP said a class action has been filed on behalf of investors who purchased or otherwise acquired Futu Holdings Limited securities between May 24, 2023 and May 27, 2026, adding to earlier investor-law-firm notices over the case. The complaint alleges Futu was not complying with CSRC requirements because it continued conducting securities business, public fund sales business, and futures business in mainland China without the necessary licenses or approval. It says that left the company reasonably likely to face regulatory penalties, including disgorgement of ill-gotten gains and other penalties, which in turn allegedly overstated Futu’s financial results and made positive statements about its business, operations, and prospects materially misleading or without a reasonable basis. The new notice adds that Futu reported first-quarter 2026 net income of HK$831.0 million, after giving effect to proposed penalties totaling about RMB1.85 billion, consisting of confiscation of illegal gains of about RMB470 million and fines of about RMB1.38 billion. Futu shares fell $5.31, or 4.8%, to close at $104.91 on May 28, 2026, after the company disclosed the proposed penalties before the market opened. Investors who suffered losses have until August 25, 2026 to ask the court to appoint them as lead plaintiff, though participating in any recovery does not require serving in that role.