LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Futu Holdings Limited (“Futu” or “the Company”) (NASDAQ: FUTU) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Futu sold 7,500,000 American Depository Shares (“ADSs”) on March 7, 2020, priced at $12.00 per ADS. The Company raised $90 million in its IPO. On March 17, 2020, the Company admitted that it had failed to account for its preferred shares in calculating its earnings per share, a mistake which significantly lowered its EPS. Based on this news, shares of Futu dropped sharply over several trading sessions.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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