Recent Security Class Actions

Futu Holdings Limited (NASDAQ: FUTU)

Company Name:Futu Holdings Limited
Stock Symbol:NASDAQ: FUTU
Class Period Start:04/27/2020
Class Period End (inclusive):05/16/2023
Filing Deadline:08/11/2023

According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Futu’s business was, quite simply, illegal as it related to operations in China as a result of its failure to obtain the proper licenses; (2) it did not fully disclose to investors that it was engaging in unlawful activity and instead falsely characterized the applicable Chinese laws as ambiguous; (3) the foregoing subjected the Company to a heightened risk of regulatory enforcement; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.