Futu Holdings Securities Fraud Class Action

Multiple law firms, including Schall Brown & Schwartz LLP, Kahn Swick & Foti, and Bronstein, Gewirtz & Grossman, LLC, have filed or are reminding investors of a securities class action lawsuit against Futu Limited (NASDAQ: FUTU). The lawsuit, pending in the United States — United States District Court for the Southern District of New York (case Tang v. Futu Limited, et al, 26-cv-05453), alleges that Futu and certain executives violated federal securities laws by making false and misleading statements and failing to disclose that the company was not in compliance with China — China Securities Regulatory Commission (CSRC) requirements. Specifically, Futu allegedly continued to conduct securities, public fund sales, and futures business in mainland China without the requisite licenses or approval, making it reasonably likely to face regulatory penalties including disgorgement of ill-gotten gains. As a result, the company's financial results were overstated and its positive statements about business and prospects were materially misleading. The class period is May 24, 2023 to May 27, 2026, and the deadline to file lead plaintiff applications is August 25, 2026. When the market learned the truth, investors suffered damages, including a stock decline of approximately 32%.