Investor Alert: Pomerantz Investigates Futu Holdings - FUTU
Pomerantz LLP is looking into claims for investors of Futu Holdings Limited. If you're an investor, reach out to Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980 for more information.
An investigation is happening. Futu and certain officers and/or directors are involved. They are being probed for securities fraud or other unlawful business practices.
If you want to join the class action, click here for more information.
The Wall Street Journal wrote about two trading apps. They allowed Chinese people to invest money overseas. The apps were Futu Holdings and Up Fintech Holding. People call Up Fintech Holding "Tiger Brokers". These companies want to remove their apps from online stores in China. Futu Holdings will remove its app on Friday. People can still use the app if they already have it.
The ADR price for Futu fell by $1.91 on May 16, 2023. This caused a decrease of 4.43%. The ADR price closed at $41.24.
In May 2023, J.P. Morgan expert Katherine Lei changed her rating of Futu from "Overweight" to "Neutral." She explained that this was because the company had removed its app from app markets in China. Lei also said that the drop in the stock's value hadn't accounted for how the loss of Chinese clients could affect revenue.
Futu's stock price dropped. It fell by $2.76 per ADR. The percentage decrease was 6.66%. The stock closed at $38.66 per ADR on May 18, 2023.
Pomerantz LLP is a top-notch law firm with HQs in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv. It specializes in resolving corporate, securities, and antitrust class disputes. Abraham L. Pomerantz, a celebrated figure in class action jurisprudence, founded the Firm. Pomerantz LLP remains true to his vision, protecting those who suffer from securities fraud, fiduciary duty breaches, or corporate malfeasance after more than eight decades. The company has recuperated billions of dollars in awards for its clients. Check out the Firm's website: www.pomlaw.com.
Want to get in touch with Robert S. Willoughby? You can contact him at Pomerantz LLP. His email is [email protected] and his phone number is 888-476-6529 ext. 7980.
