Susquehanna International and Citadel Securities have filed in a New York federal court to withdraw their insider trading lawsuit against Futu Holdings Ltd., effectively bringing the case to an end.
The suit followed a China Securities Regulatory Commission (CSRC) investigation into illegal cross-border securities business. The investigation had caused a significant drop in Futu’s stock price on May 22.
The move eases legal pressure on Futu and reduces potential financial exposure. It comes after a period of stock volatility and scrutiny of the company’s operations involving mainland Chinese investors.