Woofun AI reports that a shareholder has initiated a securities class action lawsuit against Futu Holdings in the U.S. District Court for the Southern District of New York. The complaint alleges that Futu Holdings, its founder and CEO Leaf Hua Li, and CFO Yu Chen violated anti-fraud and control person liability provisions under the U.S. Securities Exchange Act of 1934. This legal action follows separate suits by market makers Susquehanna International Group and Citadel Securities regarding options insider trading linked to Futu Holdings and UP Fintech. Leaf Hua Li, a former Tencent founding employee, previously led Tencent Video and multimedia business units.