Futu Holdings Limited Class Action Lawsuit - FUTU
Case Summary
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The Futu class action lawsuit seeks to represent purchasers or acquirers of Futu Holdings Limited (NASDAQ: FUTU) securities between May 24, 2023 and May 27, 2026, inclusive (the “Class Period”). Captioned Tang v. Futu Holdings Limited, No. 26-cv-05453 (S.D.N.Y.), the Futu class action lawsuit charges Futu and certain of Futu’s top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Futu class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Futu class action lawsuit must be filed with the court no later than August 25, 2026.
CASE ALLEGATIONS: Futu engages in the provision of digitalized securities brokerage and wealth management product distribution service.
The Futu class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Futu was not in compliance with the requirements of the China Securities Regulatory Commission (“CSRC”), including because Futu continued to conduct securities business, public fund sales business, and futures business in mainland China without obtaining the requisite licenses or approval; (ii) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; and (iii) as a result of the foregoing, Futu’s financial results were overstated.
On May 22, 2026, pre-market, Futu issued a press release allegedly disclosing that it had received a notification letter from the CSRC stating that “certain Futu entities in mainland China and Hong Kong . . . without obtaining the requisite licenses or approval, conducted securities business, public fund sales business and futures business in mainland China” and that the CSRC “proposes to order the Related Companies to rectify or cease such activities, confiscate illegal gains, and impose fines, with the total proposed penalty amounting to approximately RMB1.85 billion (approximately USD271 million).” The Futu class action lawsuit further alleges that the regulatory authority “proposes to impose a personal fine of RMB1.25 million (approximately USD 183,575) on Mr. LI Hua, the founder and CEO of the Company.” On this news, the price of Futu stock fell more than 27%, according to the complaint.
Then, on May 28, 2026, before the market opened, Futu issued a press release reporting financial results for the first quarter of 2026, allegedly including the proposed penalties comprised of “(i) confiscation of illegal gains of approximately RMB470 million [approximately $69.21 million USD] and (ii) imposition of fines of approximately RMB1.38 billion [approximately $20 billion USD] in an aggregate amount of approximately RMB1.85 billion.” On this news, the price of Futu stock declined nearly 5%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Futu securities during the Class Period to seek appointment as lead plaintiff in the Futu class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Futu class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Futu class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Futu class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.