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Events / Business / Lufax Holding Faces Securities Class Action
Business class action

Lufax Holding Faces Securities Class Action

Analysis based on 71 articles · First reported Apr 01, 2026 · Last updated Apr 27, 2026

Sentiment
-70
Attention
4
Articles
71
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The market is negatively impacted by the alleged securities fraud and misstated financial results of Lufax Holding, leading to a significant drop in its stock price. The ongoing class action lawsuits by Pomerantz LLP and Faruqi & Faruqi create uncertainty and potential financial liabilities for Lufax Holding, affecting investor confidence.

financial services
Event Summary

Lufax Holding is facing class action lawsuits filed by Pomerantz LLP and Faruqi & Faruqi, alleging securities fraud, inadequate internal controls, and materially misstated financial results in its 2022 and 2023 Annual Reports. These lawsuits stem from Lufax Holding's announcement on January 27, 2025, that it proposed to remove its auditor, PwC, due to PwC's significant concerns about the company's financial disclosures. Following this news, Lufax Holding's American Depositary Share price fell by nearly 22% over three trading sessions. Investors are being reminded of the May 20, 2026 deadline to seek the role of lead plaintiff in the federal securities class action.

Entities Involved
per
Reed Kathrein
Importance 0.0 Sentiment 0.0
priv
PwC
Importance 0.0 Sentiment 0.0
priv
Faruqi & Faruqi
Importance 0.0 Sentiment 0.0
priv
Hagens Berman
Importance 0.0 Sentiment 0.0
priv
Pomerantz LLP
Importance 0.0 Sentiment 0.0
priv
Rosen Law Firm
Importance 0.0 Sentiment 0.0
per
Philip Kim
Importance 0.0 Sentiment 0.0
per
Lawrence Rosen
Importance 0.0 Sentiment 0.0
priv
The Schall Law Firm
Importance 0.0 Sentiment 0.0
per
Brian Schall
Importance 0.0 Sentiment 0.0
govactor
United States — United States Securities and Exchange Commission
Importance 0.0 Sentiment 0.0
cnt
United States
Importance 0.0 Sentiment 0.0
cnt
China
Importance 0.0 Sentiment 0.0
stock
Lufax Holding
Importance 0 Sentiment 0
Relationships
Reed Kathrein related ↔ Faruqi & Faruqi
Reed Kathrein partner ↔ Hagens Berman Reed Kathrein is a partner at the shareholder rights law firm Hagens Berman, where he leads investigations into securiti
Reed Kathrein related ↔ Pomerantz LLP
Reed Kathrein related ↔ Rosen Law Firm
Reed Kathrein related ↔ Philip Kim
Reed Kathrein related ↔ Lawrence Rosen
Reed Kathrein related ↔ The Schall Law Firm
Reed Kathrein related ↔ Brian Schall
Faruqi & Faruqi related ↔ Hagens Berman
Faruqi & Faruqi related ↔ Pomerantz LLP
Faruqi & Faruqi competitor ↔ Rosen Law Firm Faruqi & Faruqi operates as a direct competitor to Rosen Law Firm, with both firms frequently vying for lead plaintiff s
Faruqi & Faruqi related ↔ Philip Kim
Faruqi & Faruqi related ↔ Lawrence Rosen
Faruqi & Faruqi competitor ↔ The Schall Law Firm Faruqi & Faruqi competes directly with The Schall Law Firm in the plaintiff-side securities litigation market, frequentl
Faruqi & Faruqi related ↔ Brian Schall
+ 21 more relationships View on Dashboard
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