Portnoy Law Firm Announces Class Action on Behalf of Futu Holdings Limited Investors
LOS ANGELES, June 30, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Futu Holdings Limited, (“Futu” or the "Company") (NASDAQ: FUTU) investors of a class action on behalf of investors that bought securities between May 24, 2023 and May 27, 2026, inclusive (the “Class Period”). Futu investors have until August 25, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/futu-holdings-limited. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The Futu class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Futu was not in compliance with the requirements of the China Securities Regulatory Commission (“CSRC”), including because Futu continued to conduct securities business, public fund sales business, and futures business in mainland China without obtaining the requisite licenses or approval; (ii) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; and (iii) as a result of the foregoing, Futu’s financial results were overstated.
On May 22, 2026, pre-market, Futu issued a press release allegedly 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).” The Futu class action lawsuit further alleges that 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, the price of Futu stock fell more than 27%, according to the complaint.
Then, on May 28, 2026, before the market opened, Futu issued a press release reporting financial results for the first quarter of 2026, allegedly 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, the price of Futu stock declined nearly 5%, according to the complaint.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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