Lufax Investors Urged to Seek Lead Role in U.S. Securities Suit Before May 20

Overview

• Several investor law firms this week called on Lufax shareholders to move for lead-plaintiff status by May 20, 2026 in the federal securities case.
• The complaint alleges Lufax lacked effective internal controls and reported financial results that were materially misstated.
• Lufax’s removal of auditor PwC is central to the case, as PwC refused to let the company use its past audit opinions and said those audits should not be relied on, which was followed by a one-day share drop of about 14%.
• Filings point to Lufax’s later disclosure that it was the sole investor in trusts that bought assets from affiliates, which the company says led to overstated assets and liabilities starting in the second half of 2023.
• No class has been certified, and a lead plaintiff would guide the litigation on behalf of other investors under the court’s oversight.