Lufax Investors Get May 20 Deadline to Seek Lead Role in Securities Class Action

Law firms urge investors to seek lead-plaintiff status by May 20 over alleged accounting failures.

Overview

Plaintiff firms report a securities class action is now filed against Lufax and invite investors with losses to participate.
The case seeks to represent buyers of Lufax securities from April 7, 2023 to January 26, 2025, citing claims of weak controls and misstated results.
Lufax said in January 2025 it removed auditor PwC after the firm flagged possible undisclosed related-party deals, and its ADS price fell about 14% that day.
PwC told the company its 2022 and 2023 audit opinions should not be used or relied upon in future filings.
In April 2025 the company disclosed it was the sole investor in certain trusts from May 2023 to June 2024, which led to overstated assets and liabilities since late 2023.