Futu Holdings Limited (NASDAQ: FUTU) Securities Fraud Class Action

The Futu Holdings Limited class action lawsuit was filed on behalf of those who purchased or otherwise acquired Futu Holdings Limited (“Futu”) (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 alleges that Futu and/or certain of its officers and/or directors violated federal securities laws by making false or misleading statements and/or omitted to disclose material information.

IIf you lost money as a result of your ADMA Biologics investment and want to find out more about this action and your rights, fill out the form on this page or contact attorney Jonathan Naji, Esq. of KTMC by calling (484) 270-1453 or via e-mail at [email protected].

COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Futu was not in compliance with the requirements of the CSRC, particularly 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) consequently, Futu’s financial results were overstated; and (4) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHY DID FUTU’ S STOCK DROP?
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 “brokers it accused of illegally moving money to foreign markets” including “overseas firms and their local partners operating without approval.” Specifically, the article reported “online brokers Tiger, Futu and Longbridge would be penalised for soliciting business in China without an onshore licence, the securities regulator said.”

That same day, pre-market, Futu issued a press release 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).” Further, 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, Futu’s stock price fell $34.10 per share, or 27.5%, to close at $89.76 per share on May 22, 2026.

Then, on May 28, 2026, before the market opened, Futu issued a press release reporting its financial results for the first quarter of 2026, 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, Futu’s stock price fell $5.31 per share, or 4.8%, to close at $104.91 per share on May 28, 2026.

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 a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including being recognized in Chambers & Partners USA 2026 as a Band 1 Top Firm in Securities and Class Actions, Legal 500’s Tier 1 Rankings for Securities and M&A Litigation, The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.