Luckin responded Monday to fraud allegations from an anonymous report publicized by short seller Muddy Waters on Friday.
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Posted inHeavy Hitters
China’s SAIC to take over Luckin founder’s car business
If the deal proceeds, Luckin founder Charles Lu and his family will receive up to HK$1.37 billion, likely to be put toward the company’s cash crunch.
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 inOn the Cusp
Charles Lu is out at Luckin, but his influence may linger
The CEO, COO, and many other employees of China coffee chain Luckin Coffee have been fired after the company admitted to accounting fraud in April.
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 inThe Numbers
Beware ‘high-tech China hustle’: experts
Information asymmetries between tech-focused Chinese companies and US investors makes it easy for dishonest managers to lie to investors.
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 inThe Numbers
After Luckin, fraud will still be a problem with Wei Sheng
Wei Sheng joins to discuss a recent lawsuit filed against Luckin Coffee in China, and how regulators are cracking down on the company since their admission of fraud.
