China Moves to Punish Luckin Coffee for Fabricating Sales

This post was originally published on this siteChinese regulators are preparing punitive action against Luckin Coffee Inc., LKNCY -6.28% less than four months after the company revealed that it

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US Sees Second-Highest Number of Covid-19 Cases as Global Infections Top 14 Million

This post was originally published on this siteThe U.S. recorded more than 71,000 new coronavirus cases Friday, the second-highest daily increase on record, as global infections topped 14

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Former Luckin Chairman Loses Control of Coffee Chain in Court

This post was originally published on this siteHONG KONG—Charles Lu, the co-founder and former chairman of Luckin Coffee Inc., has lost control of all his shares in the Chinese coffee chain

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Luckin Coffee Probe Says Chairman Knew or Should Have Known of Fabricated Transactions

This post was originally published on this siteAn investigation into the accounting misdeeds at Luckin Coffee Inc. has concluded that the company’s chairman knew—or should have

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Luckin Coffee Drops Nasdaq Appeal; Shares To Be Delisted

This post was originally published on this siteEmbattled Chinese coffee chain Luckin Coffee Inc. LK -53.33% said it no longer plans to appeal a decision by the Nasdaq Stock Market to delist its

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Banks Win Right to Liquidate Millions in Luckin Coffee Stock Owned by Chairman

This post was originally published on this siteBanks including Credit Suisse Group AG have won court orders to liquidate tens of millions of dollars in Luckin Coffee Inc. stock owned by embattled

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Behind the Fall of China’s Luckin Coffee: a Network of Fake Buyers and a Fictitious Employee

This post was originally published on this siteThe highflying Chinese tech darling soared in value before admitting to revenue fabrication. Records show that bulk purchasers of its products

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Banks could lose over $100 million on loan made to chairman of China’s Luckin Coffee

This post was originally published on this siteThe Chinese coffee chain saw its share price plummet after admitting much of its 2019 sales were fabricated. Luckin Coffee cup. FRED DUFOUR. Email

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