6 frequently asked qUESTIONS about the FUTURE FINTECH CLASS ACTION LAWSUIT

If you suffered losses in Future FinTech stock, contact Future FinTech stock loss lawyer Timothy L. Miles for a free case evaluation

INTRODUCTION TO FUTURE FINTECH CLASS ACTION LAWSUIT

Contact a Future FinTech Stock Loss Lawyer about a Future FinTech class action lawsui

The Future FinTech class action lawsuit seeks to represent purchasers or acquirers of Future FinTech Group Inc. (NASDAQ: FTFT) publicly traded securities between March 10, 2020 and January 11, 2024, inclusive (the “Class Period”). Captioned Labelle v. Future FinTech Group Inc., No. 24-cv-00247 (D.N.J.), the Future FinTech class action lawsuit charges Future FinTech and certain of Future FinTech’s top current and former executives with violations of the​ Securities Exchange Act of 1934.
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If you suffered losses in Future FinTech stock and wish to serve as lead plaintiff in the Future FinTech class action lawsuit, or just have general questions about your rights as a shareholder, please contact Future FinTech Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. 

Lead plaintiff motions for the Future FinTech class action lawsuit must be filed with the court no later than March 18, 2024.

Read on for answers to six frequently asked questions by investors about the Future FinTech class action lawsuit.

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what are the ALLEGATIONS IN THE FUTURE FINTECH CLASS ACTION LAWSUIT?

Future FinTech provides supply chain financial services and trading, asset management, and cross-border money transfer services, as well as cryptocurrency mining and market data and information service business.

The Future FinTech class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Future FinTech CEO, defendant Shanchun Huang, manipulated the price of Future FinTech stock; (ii) defendant Huang and Future FinTech lied to the U.S. Securities and Exchange Commission (“SEC”) about the nature of defendant Huang’s ownership of Future FinTech stock; (iii) Future FinTech understated its legal risk; and (iv) Future FinTech did not disclose the unlawful measures defendant Huang took to prop up the price of Future FinTech stock.   
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The Future FinTech class action lawsuit further alleges that on January 11, 2024, the SEC announced that it “charged Shanchun Huang with manipulative trading in the stock of Future FinTech Group Inc., using an offshore account shortly before he became Future FinTech’s CEO in 2020.  The SEC also charged Huang with failing to disclose his beneficial ownership of Future FinTech stock as well as transactions in such stock.”  On this news, the price of Future FinTech stock fell nearly 21%, according to the complaint. ​

WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE FUTURE FINTECH CLASS ACTION LAWSUIT?

​​When a securities class action is filed such as the Future FinTech class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Future FinTech class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

WHAT IS A SECURTIES FRAUD CLASS ACTION SUCH AS THE FUTURE FINTECH CLASS ACTION LAWSUIT?

​A securities fraud class action refers to a legal action taken by a group of investors who have suffered financial losses as a result of fraudulent activities committed by a company or its executives. This type of lawsuit is typically filed when a company misrepresents or withholds important information from investors, leading to a decline in the value of their investments. The purpose of a securities fraud class action is to seek compensation for the affected investors and hold the company accountable for its fraudulent practices.  Securities fraud class actions are governed by the Private Securities Litigation Reform Act (PSLRA).

One notable securities fraud class action lawsuit is the Future FinTech class action lawsuit. In this case, investors who purchased Future FinTech securities alleged that the company made false and misleading statements and misled investors, and when the truth was ultimately disclosed, they suffered losses from purchasing shares that had been artificially inflated by the false and misleading information.

Securities fraud class actions are typically initiated by a lead plaintiff or a group of lead plaintiffs who represent the interests of all the affected investors. The lead plaintiff is often an institutional investor or a large shareholder who has suffered substantial losses and possesses the resources and expertise to effectively pursue the lawsuit on behalf of the class. The lead plaintiff's role is crucial in coordinating with legal counsel, gathering evidence, and making strategic decisions throughout the litigation process.

To proceed with a securities fraud class action, the lead plaintiff must demonstrate that there is a common issue of law or fact among the members of the class and that a class action is the most efficient and appropriate method for resolving their claims. If these requirements are met, the court will certify the lawsuit as a class action, allowing all eligible investors to participate in the litigation and share in any potential recovery.

Once certified, the securities fraud class action typically goes through several stages, including discovery, where both parties exchange relevant documents and information, and motion practice, where each side presents legal arguments to the court. If the case does not settle during these stages, it may proceed to trial, where a jury or judge will determine liability and damages.

In securities fraud class actions, the defendants are usually the company accused of fraud and its executives who were involved in the fraudulent activities. The lead plaintiff seeks damages on behalf of all class members, which may include compensation for their financial losses, interest, attorneys' fees, and other costs incurred throughout the litigation process.

In conclusion, a securities fraud class action is a legal mechanism used by investors to seek compensation for financial losses resulting from fraudulent activities committed by a company. The Future FinTech class action lawsuit serves as an example of how investors can hold companies accountable for their alleged misrepresentations and omissions. These lawsuits play an essential role in protecting investor rights and promoting transparency in the financial markets.

what are THE STAGES TO THE FUTURE FINTECH CLASS ACTION LAWSUIT?

​​Securities fraud class actions go through a series of stages. In the Future FinTech lawsuit, the various steps to the lawsuit would be as follows:

• Consolidation of all related cases and the appointment of a lead plaintiff.
• Lead Plaintiff's filing of a consolidated complaint.
• Defendants' motion to dismiss.
• Class certification.
• Discovery.
• Settlement talks and most likely mediation.
• Motions for summary judgment.
• Trial.
• Appeal.

CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE FUTURE FINTECH CLASS ACTION LAWSUIT?

​Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Future FinTech​​ stock, they may move the Court to be appointed lead plaintiff in the Future FinTech class action lawsuit. 

WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE FUTURE FINTECH LAWSUIT?

Serving as a Lead Plaintiff in the Future FinTech lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Future FinTech​​ if you suffered significant losses in Future FinTech​ stock. ​

CONTACT A FUTURE FINTECH​ STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN FUTURE FINTECH​ STOCK ABOUT A FUTURE FINTECH​​ CLASS ACTION LAWSUIT

​If you suffered losses in Future FinTech​​ stock, contact Future FinTech​ stock loss lawyer Timothy L. Miles today for a free case evaluation about a Future FinTech class action lawsuit. Call today and see what a Future FinTech​ stock loss lawyer could do for you if you suffered losses in Future FinTech​​​ ​stock.

The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
​Email: [email protected]

Future FinTech​ stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,  shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer ofthe South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
​​Phone: (855) 846-6529