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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Luckin fined, VCs seek out new Chinese brands: Retailheads
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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Luckin faces effort to delist company from Nasdaq
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.
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China’s top regulators are investigating Luckin Coffee
The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.
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Luckin Coffee admits to sales fraud
Luckin confirms sales fraud, two months after doubts about the disclosure accuracy by the Chinese Starbucks rival.
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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.
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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.
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Luckin shares dip further despite refuting fraud claims
Luckin responded Monday to fraud allegations from an anonymous report publicized by short seller Muddy Waters on Friday.
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Alibaba empire under pressure, VCs flood edtech: Retailheads
China launches an anti-trust probe into Alibaba and summon executives from Ant Group, Luckin continued to grow in 2020, investment into edtech surged.
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Chinese users can now order Starbucks coffee on Taobao
The new service expands on previous partnerships between Starbucks and Alibaba, including voice ordering on virtual assistant Tmall Genie
