Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges brought by the US market regulator.
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Posted inOn the Cusp
Luckin apologizes to staff after month-long fraud tumult
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.
Posted inHeavy Hitters
Luckin may face shareholder fraud lawsuit
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.
Posted inUp and Comers
Luckin tea rival brewing $400 million US IPO: report
Naixue’s Tea, one of China’s largest tea beverage chains, is reportedly looking to raise $400 million in a US IPO as early as this year.
