Investors didn’t show that Futu Holdings Ltd. made fraudulent statements or omissions about its operations in China and its compliance with Chinese law, a federal court said.
Futu is a technology company that offers a securities brokerage platform to investors, and its American Depository Shares trades on NASDAQ, Judge Brian R. Martinotti said Wednesday for the US District Court for the District of New Jersey. China and Hong Kong were the two primary markets for Futu’s brokerage services during the class period, between April 27, 2020 and May 16, 2023.
The class action alleged that Futu and its officers, through ...
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