NEW YORK, July 10, 2023 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of purchasers or acquirers of Futu Holdings Limited (“Futu” or the “Company”) (NASDAQ: FUTU) securities between April 27. 2020 and May 16, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
If you acquired Futu securities during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than August 11, 2023 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
According to the complaint, on May 16, 2023, Reuters published an article entitled “Two online brokerages to remove China apps as Beijing data crackdown widens.” The article reported that Chinese regulators had warned Futu as early as 2021 that online brokerages not licensed in China were acting illegally if they served Chinese clients via the internet.
On this news, the price of Futu’s American depositary receipts ("ADRs") fell $1.91 per ADR, or 4.4%, to close at $41.24 per ADR on May 16, 2023.
The complaint alleges that throughout the Class Period, the defendants materially misrepresented the level of risk of operating unlicensed in China.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
