IMPORTANT - YOUR REPORT IS QUEUED - IT MAY TAKE UP TO 12 HOURS FOR YOUR REPORT TO SHOW ON OUR HOME PAGE (IF NOT OPTED AS PRIVATE)
Visit our learn pages for more helpful information or, email us: email@example.com
Luckin Coffee is a Chinese coffee chain founded in Beijing in 2017. In April 2020, the company revealed it had inflated its 2019 sales revenue by up to $310 million US dollars. This led to a crash in the stock price. Many investors suffered financial losses, and there now several related lawsuits.Last updated: January 26, 2021
Luckin Coffee Stock Fraud & Lawsuit
2 years ago
I did lose, Luckin Coffee was a lesson learnt. I didn't understand coffee, but invested. Then decided, I do understand tech and should stay away from coffee stocks. $SBUX replaced with $AYX. $TD replaced with $TTD and so on. All this in April.
2 years ago
I'm $2k invested as well on robinhood and don't know the probability of them getting relisted on nasdaq again. At this point I'm researching what the options are and what is the best decision to take.
2 years ago
I got in December (2019) where I was really excited about the stock. I planned to hold it long term and keep adding. I also hold SBUX. Even after the Muddy Waters report and Coronavirus drove the stock down, I held and was still optimistic the stock... would hold weight. But the minute the news broke the COO was accused of fraud and inflating revenue numbers I dumped it as soon as markets opened. It’s a shame because I really liked the business model and coffee is growing hype in China. I took an 80% loss on the sale but I’m not sorry for it one bit. It’s not worth my time and money to suffer the fallout of company leaders lying to shareholders and regulatory agencies.
I lost $240k on Luckin Coffee, all my life savings. Now I'm broke af. I believed luckin was growing strong and becoming the next asia starbucks. I didn't know they could cheat on balance sheet, and had no idea about VIE structure and that a company can... just fail in 3 months. From Nov to Jan did a 300% gain. I was just late to the party and entered at the wrong time, and played really badly.... I learned the lesson the hard way and I'm gonna just invest in etfs, gold and bonds for the rest of my hopefully long but quite useless life.
2 years ago
Investors who have suffered losses on Luckin Coffee investments have potential legal claims under U.S. securities laws. Investors who purchased Luckin Coffee ADSs may be able to sue Luckin Coffee, the directors of Luckin Coffee, the Company’s auditor and the underwriters of Luckin Coffee to recover their... losses.
Investors who have suffered losses on their purchases of Luckin Coffee ADSs may have strong legal claims under the U.S. securities laws because, Luckin Coffee has now admitted that its 2019 sales were fabricated by senior officers of the Company;
Apart from Luckin Coffee itself, other persons may be potentially liable, including underwriters of Luckin Coffee’s IPO and SO, and Luckin Coffee’s auditors.
2 years ago
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.
Recent Interesting Reports
Received a package not ordered by me! Is this a fraud case that I paid for?, 19301 Pacific Gateway Drive, Torrance, CA, USA
4 days ago
I received a package with 3 tops that I did not order and would not have ordered. What can I do?
Not what i ordered i want my full refund I van get a small rachet set at the dollar store n this is not what was odered
I to received a moissanite ring I never ordered with same Online Sellar same California address no way to contact seller
I'm in Illinois
Ordered a coffee machine got earmuffs today , been waiting over a month!! Company was Tollshared ??
I'm in Stafford
I ordered 2 cat towers, and got a calligraphy pen instead. Thank god I went to my credit union. They refunded my money. Twice over. This company outta be banned from buisness.
I received a package today from the 1800 140th ave e Summer, Wa, a Gra ring moissanite ring.. I didn't place a order online for this, I keep all confirmation # and emails of my online orders.. this is not mine and any charge will be disputed..
I received a ring and have not ordered it from GRA. I want to know who this is and why I got it.
I'm in Dacula
Ring - no such address exists Never ordered it!
I received the same ring yesterday!! I never ordered it and the address doesn’t exist. Same sender Tanya and same address. Strange. Has anyone gotten a charge for this item?
i also received a 1502 world Map series quill pen set instead of christmas tree ordered.it freaked me out. what the hell would I do with this. they should be blocked or put out of Business.
I'm in Grandview, MO