Class action filed after Lufax shares plunge 13.8% on auditor removal news

Lufax Holding, Ltd. investors have initiated a class action lawsuit following a 13.8% drop in the company's American Depositary Share price on January 27, 2025. The decline was triggered by the disclosure that Lufax's board proposed removing the company's auditors, raising concerns about internal controls and potential delays in the 2024 annual report. This news caused a sharp loss of investor confidence and a significant drop in shareholder value. Investors have until May 20, 2026, to file lead plaintiff motions to join the case and seek recovery for their losses.