{"success":true,"data":{"pressRelease":{"id":"20095","rtpr_id":"nGNX3MhLWJ","ticker":"LU","exchange":"NYSE","all_tickers":["LU"],"title":"LU Investor Alert: Lufax Holding Ltd Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Misrepresented Financial Controls: Levi & Korsinsky","author":"Globe Newswire","published_at":"2026-05-05T02:27:45.101Z","article_body":"NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Institutional investors holding\npositions in Lufax Holding Ltd (NYSE: LU) during the period April 7, 2023\nthrough January 26, 2025 may wish to evaluate lead plaintiff opportunities in\na pending securities class action. Request an institutional investor loss\nassessment\n(https://www.globenewswire.com/Tracker?data=IffAO5dVCiq1JSGfbXyYmatao7QBnXoRvjs40bCZqde16EEY9jf8oq12vqrXAwKwBPO3yL2IvS3bO8yfkACs5OWX1tODSphqC3JtEnncqGXI4udB3XATP2QwHDll23UNinUKj911MsLLB0WGiHDgD1B1pegPwfh1IjgO8WjlmJ1hdv-KQGaiJ_kBD_HIIFl-gMrKDIB5-F4-P_Co9Hpj1A==).\nYou may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212)\n363-7500.\n\nLufax ADSs declined from $2.89 to $2.26 over a series of corrective trading\nsessions, with net profit restatements totaling RMB 917.0 million (2022) and\nRMB 81.4 million (2023). The window to apply for lead plaintiff closes on May\n20, 2026.\n\nNotice to Institutional Holders\n\nPension funds, mutual funds, and asset managers that acquired LU shares during\nthe Class Period face potential fiduciary obligations to evaluate recovery\noptions on behalf of beneficiaries. A securities class action contends that\nLufax's annual reports for fiscal years 2022 and 2023 contained materially\noverstated net profit figures and false certifications regarding the\neffectiveness of internal controls over financial reporting. Institutional\nholders that passively monitor this litigation without assessing lead\nplaintiff standing may need to document their rationale for inaction.\n\nERISA and Fiduciary Considerations\n\nFiduciaries overseeing portfolios that included LU securities should consider\nthe following:\n* The complaint alleges Lufax's reported 2022 net profit was overstated by RMB\n917.0 million, and its 2023 net profit was overstated by an additional RMB\n81.4 million\n* PricewaterhouseCoopers withdrew its 2022 and 2023 audit opinions after\nraising concerns about undisclosed possible related party transactions\n* Institutional holders with the largest financial interest in the litigation\nare positioned to shape case strategy, select counsel, and negotiate\nsettlement terms as lead plaintiff\n* Lead plaintiffs incur no out-of-pocket costs and are reimbursed for\nreasonable expenses from any recovery\n* Fiduciary duty principles may require plan administrators to investigate\navailable legal remedies when portfolio losses stem from alleged securities\nfraud\n* Failing to evaluate lead plaintiff participation could itself raise\nquestions under prudent investor standards\nPortfolio Impact Assessment\n\nThe lawsuit chronicles that Lufax's external auditor could no longer rely on\nmanagement representations, triggering a chain of disclosures that erased\nsubstantial shareholder value across three consecutive trading sessions in\nlate January 2025. Institutional portfolios with concentrated or significant\nLU positions during the Class Period may have experienced material tracking\nerror or benchmark deviation as a result.\n\nContact us for institutional recovery options\n(https://www.globenewswire.com/Tracker?data=mGRqi3BjbUNwUx-CHeNfTpEKeMX32FPSLDm3qM0E_u5NoWXxF980p1ookFOvuEK_iUrbbUBOM4_DgXxQNgaSD5yjkZvnOe40dz2iJRI_zU-IexsaxylFVLMRYx0jLH938JNMCUaFy-dJPPwBZAkD5gewpE--NUVU9sb8jim7hK-XMVhnEJALFFAiJSguppwykjqSw_qz-1Ki-IiIt2S4pg==)\nor call (212) 363-7500.\n\n\"Institutional investors play a critical role in securities class actions.\nTheir participation as lead plaintiffs helps ensure vigorous representation of\nall class members and strengthens the integrity of the recovery process.\" --\nJoseph E. Levi, Esq.\n\nCase Summary\n\nThe action asserts that Lufax and certain officers violated Sections 10(b) and\n20(a) of the Securities Exchange Act by issuing false certifications and\nmaterially misstated financial results. A re-audit confirmed that income and\nexpense line items were inaccurately recorded, resulting in restated figures\nthat revealed the original reports overstated profitability.\n\nINSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides\nsophisticated counsel to institutional investors evaluating lead plaintiff\nopportunities. The firm has recovered hundreds of millions of dollars. Ranked\namong ISS Top 50 for seven consecutive years.\n\nCONTACT:\n\nLevi & Korsinsky, LLP\n\nJoseph E. Levi, Esq.\n\nEd Korsinsky, Esq.\n\n33 Whitehall Street, 27th Floor\n\nNew York, NY 10004\n\njlevi@levikorsinsky.com\n\nTel: (212) 363-7500\n\nFax: (212) 363-7171\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d91bd4e6-7d18-43f7-a479-4f992242a82a)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3MhLWJ","title":"LU Investor Alert: Lufax Holding Ltd Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Misrepresented Financial Controls: Levi & Korsinsky","author":"Globe Newswire","ticker":"LU","created":"2026-05-05T02:27:45.101Z","tickers":["LU"],"exchange":"NYSE","article_body":"NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Institutional investors holding\npositions in Lufax Holding Ltd (NYSE: LU) during the period April 7, 2023\nthrough January 26, 2025 may wish to evaluate lead plaintiff opportunities in\na pending securities class action. Request an institutional investor loss\nassessment\n(https://www.globenewswire.com/Tracker?data=IffAO5dVCiq1JSGfbXyYmatao7QBnXoRvjs40bCZqde16EEY9jf8oq12vqrXAwKwBPO3yL2IvS3bO8yfkACs5OWX1tODSphqC3JtEnncqGXI4udB3XATP2QwHDll23UNinUKj911MsLLB0WGiHDgD1B1pegPwfh1IjgO8WjlmJ1hdv-KQGaiJ_kBD_HIIFl-gMrKDIB5-F4-P_Co9Hpj1A==).\nYou may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212)\n363-7500.\n\nLufax ADSs declined from $2.89 to $2.26 over a series of corrective trading\nsessions, with net profit restatements totaling RMB 917.0 million (2022) and\nRMB 81.4 million (2023). The window to apply for lead plaintiff closes on May\n20, 2026.\n\nNotice to Institutional Holders\n\nPension funds, mutual funds, and asset managers that acquired LU shares during\nthe Class Period face potential fiduciary obligations to evaluate recovery\noptions on behalf of beneficiaries. A securities class action contends that\nLufax's annual reports for fiscal years 2022 and 2023 contained materially\noverstated net profit figures and false certifications regarding the\neffectiveness of internal controls over financial reporting. Institutional\nholders that passively monitor this litigation without assessing lead\nplaintiff standing may need to document their rationale for inaction.\n\nERISA and Fiduciary Considerations\n\nFiduciaries overseeing portfolios that included LU securities should consider\nthe following:\n* The complaint alleges Lufax's reported 2022 net profit was overstated by RMB\n917.0 million, and its 2023 net profit was overstated by an additional RMB\n81.4 million\n* PricewaterhouseCoopers withdrew its 2022 and 2023 audit opinions after\nraising concerns about undisclosed possible related party transactions\n* Institutional holders with the largest financial interest in the litigation\nare positioned to shape case strategy, select counsel, and negotiate\nsettlement terms as lead plaintiff\n* Lead plaintiffs incur no out-of-pocket costs and are reimbursed for\nreasonable expenses from any recovery\n* Fiduciary duty principles may require plan administrators to investigate\navailable legal remedies when portfolio losses stem from alleged securities\nfraud\n* Failing to evaluate lead plaintiff participation could itself raise\nquestions under prudent investor standards\nPortfolio Impact Assessment\n\nThe lawsuit chronicles that Lufax's external auditor could no longer rely on\nmanagement representations, triggering a chain of disclosures that erased\nsubstantial shareholder value across three consecutive trading sessions in\nlate January 2025. Institutional portfolios with concentrated or significant\nLU positions during the Class Period may have experienced material tracking\nerror or benchmark deviation as a result.\n\nContact us for institutional recovery options\n(https://www.globenewswire.com/Tracker?data=mGRqi3BjbUNwUx-CHeNfTpEKeMX32FPSLDm3qM0E_u5NoWXxF980p1ookFOvuEK_iUrbbUBOM4_DgXxQNgaSD5yjkZvnOe40dz2iJRI_zU-IexsaxylFVLMRYx0jLH938JNMCUaFy-dJPPwBZAkD5gewpE--NUVU9sb8jim7hK-XMVhnEJALFFAiJSguppwykjqSw_qz-1Ki-IiIt2S4pg==)\nor call (212) 363-7500.\n\n\"Institutional investors play a critical role in securities class actions.\nTheir participation as lead plaintiffs helps ensure vigorous representation of\nall class members and strengthens the integrity of the recovery process.\" --\nJoseph E. Levi, Esq.\n\nCase Summary\n\nThe action asserts that Lufax and certain officers violated Sections 10(b) and\n20(a) of the Securities Exchange Act by issuing false certifications and\nmaterially misstated financial results. A re-audit confirmed that income and\nexpense line items were inaccurately recorded, resulting in restated figures\nthat revealed the original reports overstated profitability.\n\nINSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides\nsophisticated counsel to institutional investors evaluating lead plaintiff\nopportunities. The firm has recovered hundreds of millions of dollars. Ranked\namong ISS Top 50 for seven consecutive years.\n\nCONTACT:\n\nLevi & Korsinsky, LLP\n\nJoseph E. Levi, Esq.\n\nEd Korsinsky, Esq.\n\n33 Whitehall Street, 27th Floor\n\nNew York, NY 10004\n\njlevi@levikorsinsky.com\n\nTel: (212) 363-7500\n\nFax: (212) 363-7171\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d91bd4e6-7d18-43f7-a479-4f992242a82a)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-05T02:27:45.149863124Z","server_sent_at_ms":1777948065149},"received_at":"2026-05-05T02:27:45.210Z","source_url":"https://www.globenewswire.com/news-release/2026/04/13/3272860/3080/en/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-ko.html"},"analysis":{"id":"14760","press_release_id":"20095","analysis_json":{"industry":{"label":"Financial Services","sector":"Financials"},"redFlags":[],"eventType":"legal_litigation","narrative":"Levi & Korsinsky issued a solicitation for institutional investors to serve as lead plaintiff in a class action against Lufax Holding Ltd (LU).\n\nThe complaint alleges that Lufax overstated net profit by RMB 917.0 million in 2022 and RMB 81.4 million in 2023, prompting PwC to withdraw its audit opinions.\n\nThis is a law-firm marketing notice, not an issuer disclosure; the deadline to apply for lead plaintiff is May 20, 2026.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{},"quotedText":"Institutional investors play a critical role in securities class actions. 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