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FTFT.US
id: 1050

Future FinTech (FTFT) Stock Manipulation Case

The defendant has requested the court to dismiss the case.
D. New Jersey
Court
2:24-cv-00247
Case number
03/10/2020
Class period Start
01/11/2024
Class period End
03/18/2024
Lead Plaintiff motion deadline

  • $FTFT stockholder filed a claim vs. Future FinTech, accusing the CEO of manipulating the stock price.

  • The previous SEC disclosures caused $FTFT to fall 20%, losing $4M+ shareholder value loss.

On January 11, 2024, the SEC charged Future FinTech's CEO, Shanchun Huang, with manipulating $FTFT.

  • Shanchun Huang was accused of buying hundreds of thousands of the $FTFT to artificially boost its price.

The news led to a 20.9% drop in $FTFT, causing harm to investors.

Based on these events, $FTFT stockholder filed a claim against Future FinTech and its leaders:

  • The CEO supposedly manipulated $FTFT price and lied to the SEC about stock ownership.

  • Also Future FinTech failed to disclose unlawful measures taken to boost the stock.

Considering all the representations, investors have reasons to suspect that Future FinTech misled them about stock price manipulation, causing damages to investors when the truth was revealed.

Case Type
US Securities Class Action
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements, 
Financial Misrepresentation, 
Failure to Disclose, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
01/12/2024
Filing date
01/16/2024
Lead Plaintiff Deadline
03/18/2024
Judge
Jessica S Allen