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
INSIGHTS | Luckin—out of luck
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?
Posted inOn the Cusp
Luckin and affiliates fined $9 million, more penalties may come
Luckin and its partners may receive more fines amid continuing investigations by regulators and investors at home and abroad.
Posted inOn the Cusp
Luckin names new chairman and CEO in power shakeup
Chinese beverage chain Luckin Coffee replaced founder and former chairman Charles Lu with its acting CEO, Guo Jinyi.
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 fires CEO and COO, chairman remains untouched
While the CEO and COO take the fall, Luckin non-executive chairman and driving force behind CAR Inc., Lu Zhengyao, remains unscathed.
Posted inOn the Cusp
Luckin shares plunge 12% on second delisting warning
Embattled coffee chain Luckin disclosed that it had received a second delisting notice from Nasdaq, less than a month after the first.
Posted inHeavy Hitters
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.
Posted inHeavy Hitters
Luckin: The writing was on the wall with Michael Norris
Michael, and the hosts, have been bearish on Luckin for quite some time.
Posted inWith Chinese Characteristics
Luckin fraud may be out of Chinese regulator’s reach
Under the revised Securities Law of China, regulators may have some ability to investigate Luckin, which disclosed wide-scale sales revenue fraud.
