The Rosen Law Firm has initiated an investigation into potential securities law violations by Lufax Holding Ltd (NYSE: LU) following the company's announcement on January 27, 2025, regarding auditor removal and delays in filing its 2024 annual report. The disclosure triggered a significant market reaction, with the company's stock declining 13.8% in the trading session following the announcement.
The investigation centers on allegations that Lufax may have issued materially misleading or incomplete business information to investors prior to the January announcement. The law firm is examining whether the company's prior disclosures adequately reflected the circumstances that led to the auditor removal and reporting delays, which are typically significant corporate events that can indicate underlying financial or governance concerns.
The firm is currently evaluating the potential for a class action lawsuit on behalf of investors who experienced losses during the relevant period. Investors who have held positions in Lufax shares and suffered losses are being encouraged to contact the firm to discuss their legal rights and potential remedies. The investigation is ongoing as the firm gathers additional information regarding the company's disclosure practices and timeline of events.