Futu Complaint Overview
The Futu class action lawsuit asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Futu securities. The class action is pending in the U.S. District Court for the Southern District of New York. It is captioned Tang v. Futu Holdings Limited et al., No. 26-cv-05453.
If you lost money on your Futu investment, you are encouraged to submit your information using the form on this page. You may also email adam@bfalaw.com or call 212.789.3619.
Why is Futu Being Sued for Securities Fraud?
Futu has been sued for securities fraud following significant stock drops resulting from potential violations of the federal securities laws. The decline in Futu’s stock price caused significant losses to investors.
Futu is a financial technology company that operates fully digitalized securities brokerage and wealth management platforms. Headquartered in Hong Kong, the company primarily acts as an online broker connecting retail and institutional investors to global financial markets. In December 2022, China Securities Regulatory Commission (“CSRC”) 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.
Throughout the relevant period, Futu allegedly misrepresented its business operations and risks by continuing its business in mainland China, subjecting the company to additional penalties and fines.
Why did Futu’s Stock Drop?
On May 22, 2026, Reuters published an article indicating that Futu would be penalized for soliciting business in China without a license. The same day, Futu announced that the CSRC would be issuing penalties and fines in the aggregate amount of RMB1.85 billion (approximately USD271 million) due to operating its business in mainland China without regulatory approval.
This news caused the price of Futu stock to drop $34.10 per share, or 27.5%, from a closing price of $123.86 per share on May 21, 2026, to $89.76 per share on May 22, 2026.
On May 28, 2026, Futu announced its Q1 2026 results. Futu announced disappointing results due to the CSRC penalties in the amount of RMB1.85 billion (approximately USD271 million).
This news caused the price of Futu stock to drop $5.31 per share, or 4.8%, from a closing price of $110.22 per share on May 27, 2026, to $104.91 per share on May 28, 2026.
Futu ($FUTU) Stock Chart
Image Caption: NASDAQ online chart showing the Futu ($FUTU) stock drop following the May 2026 announcements.
What is the Futu Leadership Deadline?
You may ask the Court no later than August 25, 2026, to appoint you as Lead Plaintiff through counsel of your choice.
To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
How Do I Submit My Information?
If you lost money when Futu securities dropped in price, you are encouraged to submit your information using the form on this page to speak with an attorney about your rights.
You can also contact:
Adam McCall
amccall@bfalaw.com
212.789.3619
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of any class action lawsuit. The firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS.
BFA attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360, and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
BFA’s notable successes include a recovery of over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
