Leadership tumult at Luckin appears to be ongoing even as it moves forward with new business developments, including inviting franchise partners.
The Olympics may have been delayed, but we saw a gold medal dive from Luckin Coffee’s shares. Its fraud is a cautionary tale—but about what?
Luckin is being investigated in the US for defrauding investors amid pressing concerns to recoup a dropoff in sales as a result of Covid-19.
The default followed almost immediately after Luckin disclosed that its head of operations had fabricated billions of RMB worth of sales for most of 2019.