dissecting THE FUTURE FINTECH CLASS ACTION LAWSUIT: FROM FILING TO SETTLEMENT

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

INTRODUCTION TO THE FUTURE FINTECH CLASS ACTION LAWSUIT

Contact Future FinTech stock loss lawyer Timothy L. Miles about a Future FinTech class action lawsuit

​​​The Future FinTech class action lawsuit has already started to get a bit of attention even though it was just filed, and it is essential to understand the intricacies of this legal battle. This article aims to provide a comprehensive guide on navigating the Future FinTech lawsuit, from the initial filing to the eventual settlement. By delving into the legal basis of the lawsuit, the steps to file a claim, the role of the lead plaintiff, the importance of legal representation, the settlement process, factors to consider when participating in the settlement, frequently asked questions, and available resources, this guide equips individuals with the knowledge needed to make informed decisions.

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UNDERSTANDING THE LEGAL BASis of the FUTURE FINTECH CLASS ACTION LAWSUITIS OF THE

​Before delving into the specifics of the Future FinTech class action lawsuit, it is crucial to comprehend the legal basis upon which this lawsuit stands. 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. ​

HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE FUTURE FINTECH LAWSUIT?

​If you purchased shares during the class period and suffered losses in Future FinTech stock, then you are most likely a member of the class in the Future FinTech lawsuit and may participate in the Future FinTech lawsuit since you suffered losses in Future FinTech​​ stock. ​​If you are a member of the class and do not wish to move for lead plaintiff, there is nothing you need to do at this time.  If at some point, the class is certified or there is a settlement, you will receive a notice explaining your rights and the actions, if any, you need to take in the Future FinTech lawsuit.

THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE FUTURE FINTECH LAWSUIT

​​A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Future FinTech lawsuit.  Some of the responsibilities of the Lead Plaintiff in the Future FinTech lawsuit include:

• Selecting, monitoring, and overseeing Lead Counsel.
• Reviewing and commenting on court filings on behalf of the class.
• Discussing litigation strategies with the Lead Counsel.
• Attending depositions (if necessary) and giving a deposition.
• Attending hearings (if necessary).
• Participating in mediation and the trial (if necessary).
• Provide input on any decision concerning the settlement of the securities class action.

THE LEAD PLAINTIFF PROCESS IN THE FUTURE FINTECH CLASS ACTION LAWSUIT

​The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Future FinTech stock to seek appointment as lead plaintiff in the Future FinTech class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. ​

​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Future FinTech​​ stock and have further questions, contact Future FinTech stock loss Lawyer Timothy L. Miles today who would fight to recover your damages in a Future FinTech class action lawsuit if you suffered losses in Future FinTech stock.

WHAT DO THE PLAINTIFFS HAVE TO PROVE TO PREVAIL IN THE FUTURE FINTECH CLASS ACTION LAWSUIT?

​To understand the basis of the Future FinTech class action lawsuit, it is essential to grasp the key elements of securities fraud actions. The majority of securities fraud claims are brought under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. To prevail in a Rule 10b-5 action, a plaintiff must establish six elements:

1. The defendant made a material misrepresentation or omission.
2. The defendant acted with scienter, a wrongful state of mind.
3. The misrepresentation or omission was made in connection with the purchase or sale of a security.
4. The plaintiff relied on the misrepresentation or omission.
5. The plaintiff suffered an economic loss as a result of the fraud.
6. The plaintiff can prove loss causation, showing that the fraudulent misrepresentation or omission caused the economic loss.

Courts have extensively litigated these elements in various factual contexts over the past decades, shaping the legal landscape for securities fraud actions like the Future FinTech lawsuit.

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.

THE SETTLEMENT PROCESS IN THE FUTURE FINTECH CLASS ACTION LAWSUIT

​​​After the filing of claims and the completion of the litigation process, the Future FinTech class action lawsuit may reach a settlement stage. A settlement is an agreement reached between the plaintiffs and the defendant, which typically involves compensation for the affected individuals. Any settlement must be approved by the lead plaintiff(s).

The settlement amount is determined based on various factors, including the number of eligible claimants, the severity of the harm suffered, and the financial resources of the defendant, including the amount of insurance coverage.

During the settlement process, negotiations take place between the legal representatives of both parties. The plaintiffs must be represented by skilled attorneys who can effectively advocate for their rights and secure a fair settlement. Once a settlement agreement is reached and has been approved by the lead plaintiff(s) it is submitted to the court for approval.  The Court must find that the settlement is fair, adequate, and reasonable.

FACTORS TO CONSIDER WHEN DECIDING TO PARTICIPATE IN THE SETTLEMENT

When considering whether to participate in the settlement of the Future FinTech class action lawsuit, several factors need to be taken into account. These factors include the strength of the case, the potential compensation offered in the settlement, the cost and duration of continued litigation, and the individual's circumstances.

While a settlement may provide a quicker resolution and guaranteed compensation, it may not always be in the best interest of every individual involved. Consulting with an attorney is essential in evaluating the pros and cons of accepting a settlement versus pursuing further litigation by opting out and pursuing an individual case.

WHAT IS THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING MYSELF IN THE FUTURE FINTECH LAWSUIT?

​​Objecting is telling the Court you do not believe the settlement in the Future FinTech lawsuit, or some part of it, is fair or reasonable.  You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement.  On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against Future FinTech​. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.

FREQUENTLY ASKED QUESTIONS ABOUT THE FUTURE FINTECH​​ CLASS ACTION LAWSUIT

​How long does the class action lawsuit process typically take?

• A: The duration of a class action lawsuit varies depending on various factors such as the complexity of the case, the number of claimants involved, and the court's schedule. It can take several months to several years to resolve.

Can I join the class action lawsuit if I have already settled a claim with Future FinTech?

• A: Generally, individuals who have settled their claims against Future FinTech may not be eligible to participate in the class action lawsuit. However, there are exceptions. For example, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you could still participate in the Future FinTech lawsuit. However, it is advisable to consult with an attorney to determine your specific circumstances.

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How will I be notified of any updates or developments in the lawsuit?

• A: You may receive a notice from the court, particularly if the class is certified or there is a settlement. Additionally, the court-appointed administrator of the class action lawsuit will provide updates and notifications to the eligible class members via mail or email. It is crucial to ensure that your contact information is up to date.

RESOURCES FOR STAYING UPDATED ON THE PROGRESS OF THE LAWSUIT

​​​Staying informed about the progress of the Future FinTech class action lawsuit is essential for individuals involved in the case. Several resources can provide updates and information related to the lawsuit. These resources include the official website of the court handling the case, the website of the law firm representing the lead plaintiffs, and legal news outlets that cover class action lawsuits.

Regularly checking these resources ensures that you are aware of any new developments, important deadlines, or changes to the lawsuit that may affect your participation.

CONCLUSION

​​​​​​​Navigating the Future FinTech class action lawsuit can be a complex and daunting process. However, by understanding the legal basis of the lawsuit, the steps to file a claim, the role of the lead plaintiff, the importance of legal representation, the settlement process, factors to consider when participating in the settlement, frequently asked questions, and available resources, individuals can make informed decisions and protect their rights. Remember, seeking the guidance of an experienced attorney like Timothy L. Miles is crucial throughout this journey to ensure the best possible outcome in this class action lawsuit.

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.

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 of the 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 ​