| COMPANY |
Futu Holdings Limited |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
2:23-cv-03222 |
| JUDGE |
The Hon. Brian R. Martinotti |
| CLASS PERIOD |
April 27, 2020 and May 16, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Futu Holdings Limited (“Futu”) (NASDAQ: FUTU) securities between April 27, 2020 and May 16, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose, among other things, 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.
Current Status of Case:
On November 16, 2023, the Court appointed Lead Plaintiff. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.