Schall Brown & Schwartz urges Futu investors to contact firm over securities fraud suit
Schall Brown & Schwartz says investors who bought Futu Holdings shares during a May 24, 2023, to May 27, 2026, class period may be eligible to contact the firm about a securities fraud lawsuit.
Schall Brown & Schwartz says investors who bought Futu Holdings shares during a May 24, 2023, to May 27, 2026, class period may be eligible to contact the firm about a securities fraud lawsuit.
Schall Brown & Schwartz LLP said Friday it is urging investors in Futu Holdings Limited, which trades on Nasdaq under FUTU, to contact the firm about a securities fraud class action tied to alleged federal securities law violations.
The law firm said the complaint covers investors who purchased Futu securities during a stated class period of May 24, 2023, through May 27, 2026. It said investors may be entitled to compensation without out-of-pocket fees or costs.
According to the release, the complaint alleges violations of Section 10(b), Section 20(a) and Rule 10b-5 under the Securities Exchange Act of 1934 and SEC rules. It says the complaint accuses Futu of making false and misleading statements, failing to maintain compliance with the China Securities Regulatory Commission, and facing likely regulatory action in China because of that failure.
The release also says the company’s public statements were false and materially misleading throughout the class period, and that investors suffered damages when the market learned the truth.
The release says the class has not yet been certified.
Schall Brown & Schwartz said shareholders who purchased Futu shares during the class period may contact the firm to find out whether they are eligible to recover losses or to seek appointment as lead plaintiff. The release says lead plaintiff status is not required to share in any recovery.
The firm identified Brian Schall and David Schwartz as contacts and listed its Los Angeles office, phone number, website and email in the notice. It described itself as a national shareholder rights litigation firm.
The release says the deadline noted in the notice is Aug. 25, 2026.
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