Futu Holdings Securities Class Action

Futu, a China — Hong Kong-based online brokerage, faces multiple securities class action lawsuits in the United States — United States District Court for the Southern District of New York. The lawsuits allege that Futu and certain executives failed to disclose that the company was not in compliance with China — China Securities Regulatory Commission (CSRC) requirements, conducting securities, public fund sales, and futures business in mainland China without necessary licenses. This led to regulatory penalties, including confiscation of illegal gains and fines totaling approximately RMB1.85 billion (about USD271 million), and a personal fine of RMB1.25 million on CEO Li Hua. The alleged non-disclosures caused Futu's stock to decline significantly, with a 27.5% drop on May 22, 2026, and a further 4.8% drop on May 28, 2026. Multiple law firms, including Kahn Swick & Foti, Bronstein Gewirtz & Grossman, Rosen Law Firm, Pomerantz LLP, and others, have filed or are investigating class actions. The lead plaintiff deadline is August 25, 2026. Relatedly, Raytech Holding Limited, parent of Tiger Brokers, also faces investigation and potential class action for similar alleged misconduct.