{"id":955130,"date":"2026-04-27T19:50:13","date_gmt":"2026-04-27T23:50:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lu-investor-alert-lufax-holding-ltd-securities-fraud-lawsuit-investors-with-losses-may-seek-to-lead-the-class-action-after-executives-allegedly-certified-deficient-controls-levi-korsinsky\/"},"modified":"2026-04-27T19:50:13","modified_gmt":"2026-04-27T23:50:13","slug":"lu-investor-alert-lufax-holding-ltd-securities-fraud-lawsuit-investors-with-losses-may-seek-to-lead-the-class-action-after-executives-allegedly-certified-deficient-controls-levi-korsinsky","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lu-investor-alert-lufax-holding-ltd-securities-fraud-lawsuit-investors-with-losses-may-seek-to-lead-the-class-action-after-executives-allegedly-certified-deficient-controls-levi-korsinsky\/","title":{"rendered":"LU Investor Alert: Lufax Holding Ltd Securities Fraud Lawsuit – Investors With Losses May Seek to Lead the Class Action After Executives Allegedly Certified Deficient Controls: Levi & Korsinsky"},"content":{"rendered":"

\nAlert: Claims Focus on Alleged Misrepresentations About Internal Control Effectiveness
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NEW YORK, April 27, 2026 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP reminds purchasers of Lufax Holding Ltd (NYSE: LU) securities of a pending securities class action. THE CASE: A class action seeks to recover damages for investors who purchased Lufax securities between April 7, 2023 and January 26, 2025. YOUR OPTIONS: You may be entitled to compensation without payment of any out-of-pocket fees.\u00a0Find out if you qualify to recover losses<\/a> or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com<\/a> or (212) 363-7500.<\/p>\n

Lufax ADS shares fell $0.40, or 13.8%, on January 27, 2025, then continued declining over two additional trading sessions to $2.26, after the Company disclosed that PricewaterhouseCoopers withdrew its audit opinions for fiscal years 2022 and 2023. Investors have until May 20, 2025 to seek lead plaintiff status.<\/p>\n

\n A Financial Services Company Cannot Certify What It Cannot Verify<\/strong>\n <\/p>\n

A company listed on the NYSE that files annual reports with the SEC is required to maintain internal controls over financial reporting sufficient to ensure the accuracy of its disclosed financial results. Under Sarbanes-Oxley, the CEO and CFO must personally certify those controls are effective. The lawsuit contends that Lufax’s certifications were false because the Company’s internal controls were materially deficient throughout the Class Period, allowing significant financial misstatements to go undetected across two consecutive fiscal years.<\/p>\n

\n The Alleged RMB 998 Million Net Profit Overstatement<\/strong>\n <\/p>\n

The filing states that a re-audit revealed Lufax’s reported financials contained inaccurately recorded line items across both years at issue:<\/p>\n