LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Lufax Holding Ltd. (“Lufax” or the “Company”) (NYSE: LU) on behalf of investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON LUFAX HOLDING LTD. (LU), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.
What Is The Investigation About?
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.
Contact Us To Participate or Learn More:
If you purchased Lufax securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: [email protected]
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz
310-914-5007
[email protected]
www.frankcruzlaw.com
