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?
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Posted inHeavy Hitters
Luckin CEO loses ‘significant’ voting rights after loan default
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.
Posted inHeavy Hitters
China’s SAIC to take over Luckin founder’s car business
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.
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.
