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Luckin coffee fraud falsified starbucks
Posted inHeavy Hitters

Luckin agrees to $180 million fine for US fraud

by Emma Lee Dec 18, 2020Dec 18, 2020

Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges brought by the US market regulator.

Customers of Luckin Coffee wait in line to place their order at the counter in Pudong, Shanghai on April 4, 2019. (Image Credit: TechNode/Eugene Tang)
Posted inOn the Cusp

INSIGHTS | Luckin—out of luck

by David Cohen and Emma Lee Apr 6, 2020Apr 27, 2020

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 coffee fraud falsified starbucks
Posted inHeavy Hitters

Luckin Coffee admits to sales fraud

by Emma Lee Apr 3, 2020May 2, 2020

Luckin confirms sales fraud, two months after doubts about the disclosure accuracy by the Chinese Starbucks rival.

Posted inHeavy Hitters

Luckin fires CEO and COO, chairman remains untouched

by John Artman May 12, 2020May 13, 2020

While the CEO and COO take the fall, Luckin non-executive chairman and driving force behind CAR Inc., Lu Zhengyao, remains unscathed.

luckin coffee starbucks fraud misconduct false sales
Posted inHeavy Hitters

Luckin faces effort to delist company from Nasdaq

by John Artman May 19, 2020May 19, 2020

Luckin may be kicked off Nasdaq over fraud admission as board seeks to rein in shady listings. Delisting would put Luckin in the company of penny stocks.

Posted inHeavy Hitters

Luckin: The writing was on the wall with Michael Norris

by James Hull and Elliott Zaagman Apr 7, 2020May 7, 2020

Michael, and the hosts, have been bearish on Luckin for quite some time.

Luckin Coffee fraud starbucks
Posted inHeavy Hitters

China’s top regulators are investigating Luckin Coffee

by Emma Lee Apr 28, 2020Apr 28, 2020

The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin fined, VCs seek out new Chinese brands: Retailheads

by Emma Lee Sep 29, 2020Sep 29, 2020

Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin CEO loses ‘significant’ voting rights after loan default

by Emma Lee Apr 7, 2020Apr 9, 2020

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.

mobility china wuhan covid-19 luckin coffee car inc saic ride-hailing
Posted inHeavy Hitters

China’s SAIC to take over Luckin founder’s car business

by Jill Shen Jul 3, 2020Jul 3, 2020

If the deal proceeds, Luckin founder Charles Lu and his family will receive up to HK$1.37 billion, likely to be put toward the company’s cash crunch.

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