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Luckin Coffee Accounting Scandal History

3 years ago reported by user-vpwbt427

Luckin Coffee is a coffee retailer founded in 2017 based in Xiamen, the People’s Republic of China. Luckin Coffee owns and operates stores selling food and beverages, as well as a mobile application for food and beverage purchases.

On May 17, 2019, Luckin Coffee conducted an Initial Public Offering (“IPO”) of its ADSs.

On January 31, 2020, Muddy Waters Research published a report stating that Luckin Coffee had fabricated portions of its financial statements beginning in the third quarter of 2019, citing “smoking gun evidence” such as thousands of hours of store video, customer receipts, and monitoring of the Company’s mobile application data. On this news, the price of Luckin Coffee ADSs fell from $36.40 per share on January 30, 2020, to $32.49 per share on January 31, 2020.

On February 3, 2020, Luckin issued a press release denying Muddy Waters’s allegations. The Company “categorically denie[d] all allegations in the [Muddy Waters] Report” and assured investors that the “methodology of the Report is flawed, the evidence is unsubstantiated, and the allegations are unsupported speculations and malicious interpretations of events.”

On April 2, 2020, contrary to its previous denials, Luckin Coffee disclosed that it had conducted an internal investigation and had found that Luckin Coffee’s Chief Operating Officer Jian Liu and several of his direct reports had fabricated over $300 million of sales beginning in the second quarter of 2019. On this news, the price of Luckin Coffee ADSs fell from $26.20 per share on April 1, 2020 to $6.40 per share on April 2, 2020 – a decline of over 75%.

Luckin Coffee ADSs have now been delisted from trading on the NASDAQ.

#luckincoffeestockfraudlawsuit #coffee

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I received a text from +1 (469) 888-8418 stating the following: I posted the text that I received. I paid $149.09 when I realized it was a scam. I reported this to the Federal Trade Commission and a couple of more sites. Just want you to be … See More
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The product in question is either Botox or a possibly counterfeit version of the product, and it was administered by a licensed nurse in LaSalle County who was performing work outside her authority. The two affected individuals reported symptoms such as blurred/double vision, droopy face, fatigue, shortness of breath, difficulty breathing, and hoarse voice following the injection. Both required hospitalization post-treatment.

People are advised not to use these botox injections. In Illinois, the injection of botulinum toxin, the key ingredient in Botox, is a practice of medicine that may only be performed by certain licensed professionals who are licensed and regulated by IDFPR. Cosmetologists and estheticians are prohibited from performing this practice under their licenses.

Botulism is a serious illness caused by a toxin produced by the Clostridium botulinum bacteria. This toxin is one of the most potent neurotoxins known and can cause muscle paralysis. The disease can manifest in three forms: foodborne botulism, wound botulism, and infant botulism. Foodborne botulism, which is the focus here, occurs when food contaminated with the bacteria is consumed. Symptoms can include difficulty swallowing or speaking, facial weakness, and paralysis. In severe cases, it can be fatal, particularly if it affects the respiratory muscles.

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I bought a dress from Aryadress. Which then says kikodress. I just received my dress, return address is like above: Jerry (001) Yasfbara, 9208 Charles Smith Ave, Rancho Cucamonga CA 91730. What I received is NOT AT ALL what I ordered. Its some piece of crap flower … See More
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