Why is Futu Holdings stock surging today?

Kaplan Fox LLP has filed a class action lawsuit against Futu Holdings Limited (FUTU) on behalf of investors who purchased shares between May 24, 2023, and May 27, 2026. The lawsuit alleges Futu failed to disclose non-compliance with Chinese regulations, leading to regulatory penalties and share price drops. Futu reported a proposed penalty of approximately $271 million and a subsequent 4.8% share price decline on May 28, 2026.

Levi & Korsinsky, LLP notifies Futu Holdings Limited (FUTU) investors of a pending class action lawsuit against the company and its executives, Leaf Hua Li (CEO) and Arthur Yu Chen (CFO). The lawsuit alleges misconduct from May 24, 2023, to May 27, 2026, following a 27.5% share price drop after a CSRC penalty proposal. The lead plaintiff deadline is August 25, 2026. The CSRC proposed a RMB 1.85 billion penalty and a RMB 1.25 million fine against Li. The lawsuit claims executives certified mislea

Levi & Korsinsky said a securities class action is pending for Futu Holdings Limited (NASDAQ: FUTU) investors who bought shares between May 24, 2023 and May 27, 2026. The suit alleges Futu conducted unlicensed mainland China securities, fund sales, and futures business, generating revenue. After a CSRC proposed about RMB 1.85 billion in penalties, FUTU shares fell 27.5% on May 22, 2026. Lead plaintiff deadline is Aug. 25, 2026.

Hong Kong's Securities and Futures Commission (SFC) issued a restriction notice to Futu Securities International (Hong Kong) prohibiting the broker from dealing with or processing assets of up to HK$125.25 million ($16 million) in client accounts "held by an entity suspected to be involved in a fraudulent scheme to create a false or artificial appearance of demand for shares in an initial public offering (IPO)."

Hong Kong’s securities regulator froze assets worth over HK$125 million (US$15.9 million) tied to suspected IPO market manipulation and fraud. The regulator did not name the entity or the specific listing. The order restricts Futu from disposing or transferring the assets without prior written consent, and says Futu is not under investigation.

Hong Kong’s SFC issued a restriction notice freezing up to HK$125.247 million in a client account at Futu Securities International, tied to an ongoing investigation into suspected IPO share manipulation. The SFC said Futu is not the investigation subject and the restriction applies only to the specific account, limiting asset transfers without SFC written consent.