Lufax Investors Sue Over Alleged Accounting Gaps and Control Failures

Lufax told investors its financials were strong. Controls were effective. Profits were accurate.

But behind the scenes, the financials were misstated.

In April 2023 and again in April 2024, Lufax filed annual reports claiming solid internal controls and accurate financials. Executives signed off. Everything looked clean. But the complaint says controls were deficient and financial results were misstated.

Then in January 2025, the story cracked. The company's auditor raised serious concerns about certain transactions and said prior audit opinions could no longer be relied upon.

The stock dropped about 14% in a day and kept sliding.

By February 2026, Lufax admitted it had to restate results. Net profit fell by hundreds of millions.

Investors were stunned. Confidence collapsed.

Now, more investors are joining the lawsuit.