Haina International and Castle Securities withdraw Futu Tiger Options insider trading lawsuit and reach settlement

According to Bloomberg, Susquehanna and Citadel Securities said they would withdraw their lawsuits against traders suspected of using Chinese regulatory information to trade Futu (FUTU) and Tiger Securities (TIGR) options in advance, and have reached settlements with multiple defendants. The specific terms have not been disclosed. The companies previously said traders involved bought about $12 million in put options before the regulatory announcement on May 22 and made more than $100 million in profits. The federal judge in the Southern District of New York previously refused to continue to freeze relevant accounts, believing that although insider trading may be an explanation, the existing evidence is insufficient to support the continued freezing of funds; the two companies still reserve the right to re-indict the unreconciled defendants.