Deadline Soon: Lufax Holding Ltd. (LU) Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming May 20, 2026 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Lufax Holding Ltd. (“Lufax” or the “Company”) (NYSE: LU) securities between April 7, 2023 and January 26, 2025, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO LOST MONEY ON LUFAX HOLDING LTD. (LU), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.

What Happened?

On January 27, 2025, Lufax disclosed that it was proposing to remove its auditor, PricewaterhouseCoopers (“PwC”) because PwC had significant concerns about Lufax’s financial disclosures and, in particular, the 2022 and 2023 Annual Reports.

On this news, Lufax’s stock price fell $0.40, or 13.8%, to close at $2.49 per share on January 27, 2025, thereby injuring investors.

On February 17, 2025, Lufax confirmed that the 2022 and 2023 financial reports could not be relied on, finding “that certain line items were inaccurately recorded in the consolidated financial statements that [the Company] had previously issued.” Lufax’s 2024 Annual Report provided restated net profit figures for the affected years, showing material net profit declines from the original reports.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Lufax lacked adequate internal controls; (2) Certain of Lufax’s financial results were materially misstated; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Lufax securities between April 7, 2023 and January 26, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is May 20, 2026.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:

Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [e-mail]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.