Lufax Investors Urged to Seek Lead Role in Securities Suit as May 20 Deadline Nears

Overview

• - Plaintiff firms including DJS Law Group, Hagens Berman, Faruqi & Faruqi, and Rosen are calling on Lufax investors to seek lead-plaintiff status by May 20, 2026.
• - The filed class action covers April 7, 2023 to January 26, 2025 and alleges false or misleading statements, weak internal controls, and misstated financial results.
• - The complaint highlights Lufax’s removal of auditor PwC, which refused to let the company rely on its prior audit opinions, and the news coincided with a near 14% drop in the stock.
• - After the class period, Lufax said it had used related-party trusts in 2023–2024 that led to an overstatement of both assets and liabilities starting in the second half of 2023.
• - No class has been certified yet, and the investor chosen as lead plaintiff will direct the litigation, while other investors may remain absent class members or retain their own counsel.