{"id":27304,"date":"2026-06-27T03:34:00","date_gmt":"2026-06-27T01:34:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=73d5c1b53fa090d1624c094173831045"},"modified":"2026-06-27T03:34:00","modified_gmt":"2026-06-27T01:34:00","slug":"futu-class-action-notice-glancy-prongay-wolke-rotter-llp-files-securities-fraud-lawsuit-on-behalf-of-futu-holdings-limited-investors","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=27304","title":{"rendered":"FUTU CLASS ACTION NOTICE: Glancy Prongay Wolke & Rotter LLP Files Securities Fraud Lawsuit on Behalf of Futu Holdings Limited Investors"},"content":{"rendered":"

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP<\/a> (\u201cGPWR\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Tang v. Futu Holdings Limited, et al.,<\/i> Case No. 1:26-cv-05453, on behalf of persons and entities that purchased or otherwise acquired Futu Holdings Limited (\u201cFutu\u201d or the \u201cCompany\u201d) (NASDAQ: FUTU<\/a>) securities between May 24, 2023 and May 27, 2026<\/b>, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d).<\/p><\/a><\/a>

Investors are hereby notified that they have 60 days from the date of this notice<\/b> to move the Court to serve as lead plaintiff in this action.<\/p>

IF YOU SUFFERED A LOSS ON YOUR FUTU INVESTMENTS, CLICK <\/b>HERE<\/b><\/a> TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.<\/b><\/p>

What Happened?<\/b><\/p>

On December 30, 2022, the China Securities Regulatory Commission (\u201cCSRC\u201d) issued a statement that Futu has conducted cross-border securities businesses with domestic investors in mainland China without regulatory consent. As a result, Futu was banned from opening new accounts from mainland Chinese investors and soliciting new business from mainland investors.<\/p>

Then, on May 22, 2026, before the market opened, Reuters published an article reporting that the CSRC, along with seven other government agencies including the central bank, had launched a crackdown aimed at \u201cbrokers it accused of illegally moving money to foreign markets<\/b><\/i>\u201d including \u201coverseas firms and their local partners operating without approval.\u201d The article reported \u201conline brokers Tiger, <\/b>Futu<\/b><\/i> <\/b>and Longbridge <\/b>would be penalised for soliciting business in China without an onshore licence, the securities regulator said<\/b><\/i>.<\/i>\u201d<\/p>

On the same date, pre-market, Futu issued a press release disclosing that it had received a Notification Letter from the CSRC. The Company reported the letter states \u201ccertain Futu entities in mainland China and Hong Kong \u2026 without obtaining the requisite licenses or approval, conducted securities business, public fund sales business and futures business in mainland China<\/b><\/i>.\u201d The letter further states the CSRC \u201cproposes 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).<\/b><\/i>\u201d Further, the regulatory authority \u201cproposes to impose a personal fine of RMB1.25 million (approximately USD 183,575) on Mr. LI Hua, the founder and CEO of the Company.\u201d<\/p>

On this news, Futu\u2019s stock price fell $34.10, or 27.5%, to close at $89.76 per share on May 22, 2026, on unusually heavy trading volume.<\/p>

Then, on May 28, 2026, before the market opened, Futu issued a press release reporting financial results for the first quarter 2026, including net income of HK$831.0 million (US$106.0 million) after giving effect to the proposed penalties comprised of: \u201c(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]<\/b><\/i> in an aggregate amount of approximately RMB1.85 billion.\u201d The press release reported this adjustment under the Company\u2019s financial statements as \u201cOthers, net\u201d in its statements of comprehensive income for the applicable period.<\/p>

On this news, Futu\u2019s stock price fell $5.31, or 4.8%, to close at $104.91 on May 28, 2026, on unusually heavy trading volume.<\/p>

What Is the Lawsuit About?<\/b><\/p>

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Futu was not in compliance with the requirements of the CSRC, including because the Company continued to conduct securities business, public fund sales business and futures business in mainland China without obtaining the requisite licenses or approval; (2) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; (3) as a result of the foregoing, Futu\u2019s financial results were overstated; and (4) as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>

If you purchased\u202for otherwise acquired Futu securities during the Class Period,\u202fyou may move the Court no later than\u202f60 days from the date of this notice<\/b> to ask the Court to appoint you as lead plaintiff.<\/p>

Contact Us to Participate or Learn More:<\/b><\/p>

If you wish to\u202flearn more\u202fabout this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:<\/p>

Charles Linehan, Esq.Glancy Prongay Wolke & Rotter LLP1925 Century Park East, Suite 2100Los Angeles, California 90067Email: shareholders@glancylaw.com<\/a>Telephone: 310-201-9150,Toll-Free: 888-773-9224Visit our website at www.glancylaw.com<\/a>.Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.<\/p>

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no\u202faction and remain an absent member of the Class.<\/p>

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p> Contacts<\/b>

Glancy Prongay Wolke & Rotter LLP1925 Century Park East, Suite 2100Los Angeles, CA 90067Charles Linehan<\/b>Email: shareholders@glancylaw.com<\/a>Telephone: 310-201-9150Toll-Free: 888-773-9224Visit our website at: www.glancylaw.com<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay Wolke & Rotter LLP (\u201cGPWR\u201d), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Tang v. Futu Holdings Limited, et al.,…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27304","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/27304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27304"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/27304\/revisions"}],"predecessor-version":[{"id":27305,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/27304\/revisions\/27305"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}