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luckin coffee starbucks vending machine fraud privacy apps
Posted inOn the Cusp

Luckin names new chairman and CEO in power shakeup

by Emma Lee Jul 14, 2020Jul 14, 2020

Chinese beverage chain Luckin Coffee replaced founder and former chairman Charles Lu with its acting CEO, Guo Jinyi.

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 inHeavy Hitters

Luckin faces effort to delist company from Nasdaq

by John Artman May 19, 2020May 19, 2020

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.

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.

contactless delivery eleme ele.me alibaba on demand delivery driver
Posted inHeavy Hitters

Ele.me faces backlash, Luckin coup: Retailheads

by Emma Lee Jan 13, 2021May 31, 2021

Ele.me is criticized for its treatment of the family of a deliveryman who died on the job. The US may ban American investors from Alibaba and Tencent.

Luckin Coffee fraud starbucks
Posted inHeavy Hitters

China’s top regulators are investigating Luckin Coffee

by Emma Lee Apr 28, 2020Apr 28, 2020

The astounding fraud admission from beverage chain Luckin has put more US-listed Chinese companies in regulator and short-seller crosshairs.

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.

luckin coffee starbucks vending machine fraud privacy apps
Posted inHeavy Hitters

Luckin fined, VCs seek out new Chinese brands: Retailheads

by Emma Lee Sep 29, 2020Sep 29, 2020

Last week, the state market regulator fined Luckin and the companies that assisted its sales fraud. New Chinese brands are attracting investor attention.

Lu zhengyao Luckin charles chairman founder
Posted inOn the Cusp

Charles Lu: The man behind Luckin and China’s fastest IPOs

by Emma Lee May 19, 2020May 19, 2020

Who is Luckin chairman Charles Lu, and why is he still running the show after the company admitted to major revenue fraud?

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