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id: 1050, Created by Polina Foster, Scout
Future FinTech (FTFT) Stock Manipulation Case
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D. New JerseyCourt
10 Mar 2020Class period Start
11 Jan 2024Class period End
- $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.
Failure to Disclose,
Shock Event Date
12 January 2024
16 January 2024
Lead Plaintiff Deadline
18 March 2024
Jessica S Allen