Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Lufax Holding Ltd. (“Lufax” or the “Company”) (NYSE: LU) and reminds investors of the May 20, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Lufax lacked adequate internal controls; (2) Certain of Lufax’s financial results were materially misstated; and (3) as a result, defendants’ statements about Lufax’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On January 27, 2025, Lufax disclosed in a filing with the U.S. Securities and Exchange Commission that Lufax's board had proposed to remove Lufax's auditors, and that a delay was possible in the publication of Lufax's 2024 annual report.
On this news, Lufax's American Depositary Share ("ADS") price fell $0.40 per ADS, or 13.8%, to close at $2.49 per ADS on January 27, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Lufax’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Lufax class action, go to http://www.faruqilaw.com/LU or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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