LU Investor Alert: Lufax Holding Ltd Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Violated Disclosure Obligations: Levi & Korsinsky
Deadline Alert: Understanding Lead Plaintiff Selection Under the PSLRA in the Lufax Securities Action
NEW YORK, May 13, 2026 /PRNewswire/ -- IMPORTANT DATE: May 20, 2026. Investors who purchased Lufax Holding Ltd (NYSE: LU) securities between April 7, 2023 and January 26, 2025 and wish to seek appointment as lead plaintiff must file a motion by this date. Start your claim now before the deadline or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
Lufax ADS holders lost $0.63 per share over three consecutive trading sessions in January 2025 after the Company disclosed its auditor could no longer stand behind two years of financial statements. The lead plaintiff deadline is May 20, 2026.
What is a Lead Plaintiff?
Under the Private Securities Litigation Reform Act of 1995, the Court appoints a lead plaintiff to represent the interests of all class members. The lead plaintiff selects counsel, oversees litigation strategy, and acts as a fiduciary for absent shareholders. Any investor who purchased LU securities during the Class Period and suffered a financial loss may apply.
Lead Plaintiff Facts
- The lead plaintiff is typically the applicant with the largest financial interest in the relief sought by the class
- You do not need to be lead plaintiff to participate in any recovery; absent class members retain all rights automatically
- Serving as lead plaintiff costs nothing out of pocket; attorneys' fees are paid only from any recovery obtained
- Institutional investors, pension funds, and individual shareholders are all eligible to apply
- The lead plaintiff must file a motion with the United States District Court for the Central District of California by May 20, 2026
Post-Deadline Procedures
After the May 20, 2026 filing window closes, the Court will review all motions and select the most adequate plaintiff. Competing applicants may contest each other's claims. The selected lead plaintiff will then work with appointed counsel to prosecute the action on behalf of all purchasers who acquired Lufax securities during the Class Period.
"The lead plaintiff process is designed to ensure the class is represented by shareholders with substantial interests in the outcome of the litigation. Investors who suffered losses in Lufax should understand that the May 20 deadline is a critical procedural step." -- Joseph E. Levi, Esq.
Absent Class Member Rights
Shareholders who do not seek lead plaintiff status are not excluded from the case. If the action succeeds, absent class members share in any recovery without having taken any active role. No action is required to remain a class member.
Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at (212) 363-7500.
Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP
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