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Luckin coffee offline store
Posted inHeavy Hitters

Luckin Coffee files for bankruptcy in the US

by Carolyn Surh Feb 6, 2021Feb 10, 2021

Leadership tumult at Luckin appears to be ongoing even as it moves forward with new business developments, including inviting franchise partners.

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.

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 inWith Chinese Characteristics

Luckin fraud may be out of Chinese regulator’s reach

by Wei Sheng Apr 3, 2020Apr 16, 2020

Under the revised Securities Law of China, regulators may have some ability to investigate Luckin, which disclosed wide-scale sales revenue fraud.

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.

Lu zhengyao Luckin charles chairman founder
Posted inOn the Cusp

Charles Lu is out at Luckin, but his influence may linger

by Emma Lee Jul 6, 2020Jul 7, 2020

The CEO, COO, and many other employees of China coffee chain Luckin Coffee have been fired after the company admitted to accounting fraud in April.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin may face shareholder fraud lawsuit

by Emma Lee Mar 6, 2020Mar 17, 2020

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.

Lu zhengyao Luckin charles chairman founder
Posted inOn the Cusp

Luckin’s Charles Lu survives first round of ouster

by Emma Lee Jul 3, 2020Jul 3, 2020

Charles Lu may still face a shareholder vote on to remove him as a director during an extraordinary general meeting to be held on Sunday.

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