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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Posted inHeavy Hitters
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.
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
Luckin tea rival brewing $400 million US IPO: report
Naixue’s Tea, one of China’s largest tea beverage chains, is reportedly looking to raise $400 million in a US IPO as early as this year.
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 inUp and Comers
Luckin Coffee announces 2 new bids to raise cash
Luckin Coffee is offering a $400 million bond and issuing new shares less than a year after its Nasdaq IPO.
Posted inHeavy Hitters
Luckin Coffee to spin off tea brand
Luckin Tea will launch a separate app and a mini-program focused on lower-tier cities.
Posted inOn the Cusp
Luckin’s Charles Lu survives first round of ouster
Charles Lu may still face a shareholder vote on to remove him as a director during an extraordinary general meeting to be held on Sunday.
