The complaint alleges that between May 24, 2023, and May 27, 2026, Futu Holdings misled shareholders by failing to disclose that it operated securities, public fund sales, and futures businesses in mainland China without necessary licenses. According to the filing, this lack of compliance exposed the firm to substantial penalties, including the potential disgorgement of earnings, rendering previous financial reports and public statements inaccurate.
In section Releases
Futu Holdings Faces Securities Fraud Class Action Over Regulatory Risks
Investors who incurred significant losses in Futu Holdings Limited have until August 25, 2026, to seek lead plaintiff status in a pending securities fraud class action. The lawsuit, filed by the Law Offices of Howard G. Smith, targets alleged misrepresentations regarding the company’s compliance with mainland Chinese regulatory requirements.
Investors who purchased shares during this window are encouraged to contact Howard G. Smith to discuss their legal standing. While those eligible to join the class action are not required to take immediate action to remain part of the collective, the August 25 deadline marks the window for those wishing to take a leadership role in the litigation. The firm can be reached at 215-638-4847 or via their website for inquiries regarding individual rights and the status of the proceedings.
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