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Chinese coffee chain super-brand Luckin Coffee has been in the spotlight the past week after the company revealed in an SEC filing that it has undertaken an internal investigation into an alleged ...
New details have emerged about an anonymous short seller report on Chinese coffee chain Luckin Coffee Inc, including the potential author and the methods used, The Wall Street Journal reported.The ...
Luckin Coffee’s drips and drops of news the past few weeks — including a boardroom feud that is pitting the company’s chairman against a special investigation committee looking into an ...
The disclosure of the fraud by Luckin Coffee (NASDAQ: LK) has shaken the faith of investors in Chinese companies listed on United States exchanges, Citron Research founder Andrew Left told the ...
Luckin, a major rival to Starbucks in China, revealed in April that much of its 2019 sales of about 2.2 billion yuan ($310.77 million) were fabricated by its COO and other employees, who had been ...
The consideration of the Holding Foreign Companies Accountable Act in Congress coincided with the high-profile financial scandal involving Chinese coffee chain Luckin Coffee, which fired both its CEO and COO in May 2020 for accounting fraud concerning the intentional fabrication of around $310 million in sales in 2019.
In 24 October 2013, Muddy Waters released a report on NQ Mobile, a Chinese-based cybersecurity and mobile application company. Muddy Waters's research report claimed NQ Mobile had "fictitious" customers and revenues. In April 2015, the co-CEO of NQ Mobile, Omar Khan, stepped down after the stock had fallen nearly 84 percent. [8]
China's securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc <LK.O> and sources said some of the banks involved in the Chinese chain's successful U.S. IPO ...