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

Overview

• Rosen Law Firm, which issued a notice Friday, reminded Lufax investors of a May 20, 2026 court deadline to seek the lead‑plaintiff role.
• Hagens Berman launched a parallel probe into possible lapses in related‑party disclosures as it recruits investors for the case.
• The filed class action covers purchases from April 7, 2023 to January 26, 2025 and alleges weak internal controls and misstated financial results.
• Lufax’s January 27, 2025 announcement that it removed auditor PwC and PwC’s refusal to vouch for prior audits drove a share drop of about 14%.
• Lufax later disclosed on April 23, 2025 that it was the sole investor in certain trusts from May 2023 to June 2024 and that its accounting overstated both assets and liabilities.