Leadership tumult at Luckin appears to be ongoing even as it moves forward with new business developments, including inviting franchise partners.
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Posted inHeavy Hitters
Luckin agrees to $180 million fine for US fraud
Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges brought by the US market regulator.
Posted inHeavy Hitters
Luckin Coffee admits to sales fraud
Luckin confirms sales fraud, two months after doubts about the disclosure accuracy by the Chinese Starbucks rival.
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 inHeavy Hitters
Nasdaq is helping China keep IPOs at home
Alarmed by the Luckin Coffee, scandal, Nasdaq moves to restrict IPOs by Chinese companies, effectively helping Beijing keep them at home.
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Short seller accuses Iqiyi of revenue fraud
Iqiyi, often called the Netflix of China, is another short seller target following beverage chain Luckin Coffee’s spectacular downfall.
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US regulator is investigating Iqiyi for financial fraud
Iqiyi said it is under investigation by the SEC over a short report released in April that accused the company of inflating 2019 revenue by up to 40%.
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Fintech giant Lufax eyes $2.36 billion IPO in New York
The lending and wealth management unicorn Lufax is looking to tap into US capital markets, as regulators are increasing scrutiny of Chinese tech listings.
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Ctrip said to be mulling delisting from Nasdaq
Ctrip is the fourth Chinese tech company that mulls delisting from the US financial markets in around one month as the tension between the two countries intensify.
Posted inHeavy Hitters
Chinese online media firm Sina may delist in US
Sina is the second Chinese tech company in a month mulling a delisting from the US market, a sign that Chinese tech firms are shying away from US markets.
