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luckin coffee starbucks fraud misconduct false sales
Posted inOn the Cusp

Luckin reports doubled revenue in first half of 2021

by Emma Lee Oct 22, 2021Oct 22, 2021

Chinese beverage chain Luckin Coffee released its unaudited financial report for the first half of 2021, posting doubled revenue.

Luckin coffee fraud falsified starbucks
Posted inOn the Cusp

Luckin updates 2019 financials in first filing since it admitted fraud

by Emma Lee Jul 1, 2021Jul 1, 2021

The financial update indicates Luckin Coffee is taking the first step back to normalcy as it prepares for a comeback.

Luckin coffee fraud falsified starbucks
Posted inOn the Cusp

Luckin and affiliates fined $9 million, more penalties may come

by Emma Lee Sep 23, 2020Sep 23, 2020

Luckin and its partners may receive more fines amid continuing investigations by regulators and investors at home and abroad.

luckin coffee starbucks vending machine fraud privacy apps
Posted inOn the Cusp

Luckin names new chairman and CEO in power shakeup

by Emma Lee Jul 14, 2020Jul 14, 2020

Chinese beverage chain Luckin Coffee replaced founder and former chairman Charles Lu with its acting CEO, Guo Jinyi.

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 inOn the Cusp

Luckin shares plunge 12% on second delisting warning

by Emma Lee Jun 24, 2020Jun 24, 2020

Embattled coffee chain Luckin disclosed that it had received a second delisting notice from Nasdaq, less than a month after the first.

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.

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 fraud starbucks
Posted inOn the Cusp

Luckin apologizes to staff after month-long fraud tumult 

by Emma Lee May 13, 2020May 13, 2020

Luckin apologized to its employees for the upheaval following its fraud admission in early April, and on the same day removed its CEO and COO.

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.

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