Law Firms Seek Lead Plaintiff in Lufax Securities Fraud Case

Overview

• Multiple shareholder firms are urging Lufax investors to come forward for lead-plaintiff roles before the May 20, 2026 deadline, and the class has not yet been certified.
• The suit targets investors who bought during a period ending in January 2025 and alleges false statements, weak internal controls, and misstated financial results.
• Lufax said it removed auditor PwC after concerns about undisclosed related-party deals, and PwC refused to let the company use its 2022–2023 audit opinions, which preceded a roughly 14% drop in the shares.
• The company later disclosed it used trusts tied to affiliated entities in buybacks that, under its accounting, left assets and liabilities overstated since late 2023.
• Lufax subsequently reported errors in prior line items and its next annual report showed lower restated net profit for the affected years.