The Futu Holdings Ltd. securities case is moving forward.
Tang v. Futu Holdings Limited et al., No. 1:26-cv-05453 (S.D.N.Y.)
A court-appointed lead plaintiff is now litigating on behalf of all class members. If you bought FUTU during the class period, your potential claim is unaffected — you didn't need to do anything by the deadline. Register to follow the case and have your losses evaluated for free.
- No cost to participate
- No fee unless investors recover
- Talk to a real person, not a call center
- Lead plaintiff deadline
- Passed — August 25, 2026
- Class members' claims unaffected
- Class period
- May 24, 2023 – May 27, 2026
- Eligible purchases fall between these dates
What happened to FUTU
About this case
The complaint alleges that throughout the Class Period, Futu Holdings failed to disclose to investors that: (1) Futu was not in compliance with the requirements of the CSRC, including because the Company continued to conduct securities business, public fund sales business and futures business in mainland China without obtaining the requisite licenses or approval; (2) as a result, Futu was reasonably likely to face regulatory penalties, including the disgorgement of ill-gotten gains and other penalties; (3) as a result of the foregoing, Futu's financial results were overstated; and (4) as a result of the foregoing, Futu's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The allegations, in plain terms
- May 24, 2023Class period begins. Per the complaint, Futu made positive statements about its business, operations, and prospects while allegedly conducting securities, public fund sales, and futures business in mainland China without the licenses or approvals required by the CSRC.
- Class period (2023–2026)The complaint alleges Futu failed to tell investors it was not in compliance with CSRC requirements, exposing it to potential regulatory penalties, including disgorgement of ill-gotten gains, and that its financial results were allegedly overstated as a result.
- May 22, 2026Futu's stock price fell about 27.5% in a single day. The complaint ties investor losses to the market allegedly learning the truth about the Company's regulatory compliance issues in mainland China.
- May 27, 2026Class period ends. The lawsuit, Tang v. Futu Holdings Limited et al., No. 1:26-cv-05453 (S.D.N.Y.), seeks to recover losses for investors who purchased Futu securities during the class period. These are allegations only; no court has made any findings.
Summarizes allegations in the complaint — they are not findings of any court.
We screen hundreds of stock drops every year and file only a handful. If we're investigating this one, it's because we believe in it.
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* Subject to court approval. Prior results do not guarantee a similar outcome.
Who we are — and why we're involved
Block & Leviton represents investors. We never represent the companies we investigate. When a company's own disclosures reveal that shareholders were misled, we investigate and bring claims to recover those losses.
Our clients are people like you: individual investors, retirees, and pension funds harmed when the truth comes out and a stock falls. There is no cost to you to participate, and attorneys' fees are paid only out of a recovery approved by the court.
Who you'll be dealing with
Jeffrey Block
Represents investors in securities class actions nationwide.
Your first call will usually be with David White, our investor liaison — and our partners are directly involved in every case.
A record courts have trusted
NextEra Energy — $150 million
The district court dismissed the case. We appealed — and won a unanimous reversal in the Eleventh Circuit Court of Appeals. The result: a $150 million settlement — the largest securities class action settlement in the Southern District of Florida in more than 30 years.*
Dismissed — then revived when we persuaded the court to reconsider its own judgment. Settled in 2026.
Recovered for investors even after Tricida itself went bankrupt.
Federal courts have appointed Block & Leviton lead counsel in securities class actions on behalf of investors nationwide. Our attorneys have recovered billions of dollars for investors, retirees, and pension funds.
* Subject to court approval. Prior results do not guarantee a similar outcome. Attorney advertising.
Common questions
Will this cost me anything?
No. There is no cost to submit your information, no cost to participate, and no out-of-pocket cost ever. If there's a recovery, attorneys' fees are paid from it and must be approved by the court.
Do I have to go to court or sue anyone myself?
No. The case is brought on behalf of all affected investors as a group. Unless you choose to seek a larger role, participating requires essentially nothing from you.
I'm already part of the class automatically — so why submit my information?
It's true: if you bought FUTU during the class period, you're a class member whether or not you contact anyone. Submitting your information lets us evaluate your specific losses, keep you informed as the case develops, and tell you whether you may benefit from a larger role in the case.
The lead plaintiff deadline passed — am I out of luck?
No. That deadline only governed who could seek appointment to lead the case. Your potential claim as a class member is unaffected — if the case succeeds, class members who file valid claims share in the recovery, and we'll keep you informed of every step if you register.
I sold my shares after the drop — am I still eligible?
Possibly, yes. What generally matters is that you purchased shares during the class period and were harmed by the decline. Whether you still hold shares today doesn't necessarily disqualify you — submit your details and we'll evaluate your situation.
Does submitting this form make you my lawyers?
No — and that's a protection for you. Submitting the form only lets us evaluate your potential claim, at no cost. If we determine we can help and you decide to move forward, we'll send you a written retainer agreement that spells out the relationship, the contingency fee, and your rights. You're never committed to anything until you've read and signed it.
What happens after I submit the form?
Our team reviews your submission — usually within one business day. David, our investor liaison, will reach out by phone or email, and our partners are directly involved in every case. You're never obligated to do anything.
Attorney advertising. Prior results do not guarantee a similar outcome. Block & Leviton LLP is responsible for the content of this page. Submitting information through this page does not create an attorney-client relationship.