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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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 inOn the Cusp
Luckin apologizes to staff after month-long fraud tumult
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.
Posted inViews
Luckin fraud admission leaves more questions than answers
‘If there’s anything to be learned about Luckin Coffee, it’s that there’s always more than meets the eye.’ Luckin skeptic Michael Norris has more questions.
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 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.
Posted inHeavy Hitters
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.
Posted inWith Chinese Characteristics
Luckin is being sued by Chinese investors under brand new law
Lawyer of these Luckin investors said it is the first time investors have tried to hold a company accountable in China for fraud perpetrated on US markets.
Posted inUp and Comers
Luckin raises $865 million in post-IPO offering
Luckin looks to fund its aggressive growth tactics including a vending machine initiative, and expansion into other consumables and overseas markets.
Posted inUp and Comers
Alibaba ups logistics stake, coffee war, livestream apps battle for shoppers: Retailheads
Alibaba raises its bet in the logistics industry, China’s coffee war continues to brew, Bytedance adds a crucial piece to its e-commerce puzzle.
