Overview

A class action lawsuit has been filed against Lufax Holding Ltd. (“Lufax” or the “Company”) (NYSE : LU) and certain of the Company’s senior executive officers (collectively, “Defendants”), alleging violations of the federal securities laws. The Lufax lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Lufax securities between April 7, 2023, and January 26, 2025, inclusive (the “Class Period”). Investors have until May 20, 2026, to seek appointment as lead plaintiff of the Lufax class action lawsuit.

Lufax is a China-based financial services platform whose American Depositary Shares trade on the New York Stock Exchange. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s internal controls and financial results. Specifically, Lufax represented that its disclosure controls and internal control over financial reporting were effective, while reporting net profits for 2022 and 2023 that were later shown to be misstated.

According to the complaint, in reality, Lufax lacked adequate internal controls and had materially misstated certain financial results, including overstating net profit.

The truth began to emerge on January 27, 2025, when Lufax disclosed that it had removed its auditor, PricewaterhouseCoopers, which raised significant concerns regarding the Company’s financial disclosures and indicated that its prior audit opinions for 2022 and 2023 should no longer be relied upon. The Company later confirmed that certain financial statement line items had been inaccurately recorded, resulting in material reductions to previously reported net profits.

On this news, Lufax ADSs fell $0.40 per ADS, or nearly 14%, to close at $2.49 per ADS on January 27, 2025. Over the next two trading days, Lufax ADS continued to decline, falling an additional $0.23 per ADS, or more than 9%, to close at $2.26 per ADS on January 29, 2025. 

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If you purchased or otherwise acquired Lufax securities between April 7, 2023, and January 26, 2025, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Lufax class action lawsuit is May 20, 2026.