 Luckin Coffee

Luckin Coffee, Inc. provides food and beverage items, and operates coffee retail stores. It manages pick-up stores, relax stores, and delivery kitchens. Its offerings include both hot and iced freshly brewed coffee such as Americano, Latte, Cappuccino, Macchiato, Flat White, and Mocha as well as specialty coffee based on market and seasonal trends. The firm also offers tea, snacks, and light meals through its mobile application. The company was founded by Zhi Ya Qian and Jin Yi Guo on June 16, 2017 and is headquartered in Xiamen, China.

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Luckin Coffee, Inc. engages in providing food and beverage items, and operates coffee retail stores. It manages pick-up stores, relax stores, and delivery kitchens. It also offers tea, snacks, and light meals through its mobile application. The company was founded by Zhi Ya Qian and Jin Yi Guo on June 16, 2017 and is headquartered in Xiamen, China.

Luckin Coffee Inc. lk announced the "substantial completion" of the internal investigation into financial misconduct on Wednesday, finding that the company's 2019 annual revenue was inflated by about RMB 2.12 billion (approximately $300 million) spread across the second, third and fourth quarters.

Luckin Coffee finds 2019 revenue inflated by $300 million as financial misconduct comes to a close

BEIJING, July  01, 2020  (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (the “Company”) (OTC: LKNCY) announced that its Special Committee of the Board of Directors (the “Special Committee”), with the assistance of its advisors, Kirkland & Ellis International LLP and FTI Consulting, has substantially completed its independent internal investigation (the “Internal Investigation”) into the issues disclosed in the press release issued by the Company on April 2, 2020.    

Luckin Announces the Substantial Completion of the Internal Investigation

Starbucks

Starbucks is doubling down on its app, on pick-up and delivery. But it's still going to shrink in the near term.

Learnin’ From Luckin, Starbucks Heats Up a Strategy Built Around Its App

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.

New Details Emerge About Luckin Coffee Short Seller's Takedown

Luckin Coffee Inc. (NASDAQ: LK) Chairman and board members are trying to oust each other in the aftermath of the accounting scandal, as revealed in multiple filings with the United States Securities and Exchange Commission.

Luckin Chairman and Board Members Try To Oust Each Other After Giving Up On Nasdaq Listing

The coffee upstart's breathtaking growth has expanded the Chinese coffee market dramatically, but Starbucks will probably end up reaping the rewards.

Luckin Coffee's Fraudulent Rise and Fall Will Help Starbucks in China

Luckin Coffee: The End As We Know It And A New Beginning

The move comes not long after the beleaguered company jettisoned its CEO and COO.

Luckin Coffee Board to Meet on Removing Chairman

Luckin Coffee announced Friday that its board of directors is moving to force out director and Chairman Charles Zhengyao Lu.

Luckin Coffee moves to remove chairman after accounting scandal

Sometimes you can’t just get a [L]uckin’ break. After announcing this morning that it is ending its fight to stay listed on Nasdaq, China-based coffee chain and delivery company Luckin Coffee announced that it is requiring that its chairman, Lu Zhengyao, resign in a filing with the SEC.

Luckin Coffee’s board is forcing out its chairman (also, chairman is forcing out the rest of the board)

Luckin Coffee Inc said on Friday its board had proposed to remove its chairman, Charles Zhengyao Lu, following an internal probe into the fabrication of the embattled coffee chain's annual sales numbers.

Luckin Coffee board moves to oust chairman

American depositary shares of Luckin Coffee Inc. LK, -54.00% rallied more than 7% in the extended session Friday after the Chinese coffee purveyor said its board has called for the resignation of Board Chairman Charles Zhengyao Lu, who in turn has called for the ousting of a board member involved in an ongoing internal investigation.

Luckin stock jumps 7% after board calls for chairman resignation

Nasdaq Today: Last Day for Luckin; Facebook Falls Further

Board of Directors Recommends Shareholders Vote Against the Proposal to Remove Sean Shao as an Independent Director of the Board

Luckin Coffee Received a Notification to Convene an Extraordinary General Meeting

BEIJING, June  26, 2020  (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (the “Company”) (NASDAQ: LK) announced that the Board of Directors of the Company (the “Board”), resolved to require Mr. Charles Zhengyao Lu to resign as a director and the chairman of the Board, and pursuant to article 101 of the articles of association of the Company, a meeting of the Board will be held on July 2, 2020 to consider the proposal to remove Mr. Charles Zhengyao Lu, as a director and the chairman of the Board (the “Proposed Resignation and Removal”).

Proposal of Resignation and Removal of the Chairman of the Board

Luckin Coffee (NASDAQ: LK) shares were trading lower on Friday after the company announced the withdrawal of its request for a Nasdaq hearing.

Why Luckin Coffee's Stock Is Trading Lower Today

It's the end of the line for the scandal-scarred Chinese coffeehouse.

Nasdaq Suspends Luckin Coffee Shares From Trading Starting Monday

The troubled coffee shop chain is being booted from a major stock exchange.

Why Luckin Coffee Stock Plunged 50% Today

Luckin Coffee Inc said on Friday its shares would be suspended from trading on the Nasdaq from next week as it withdrew a request for a hearing with the U.S. stock exchange on the delisting notice.

Nasdaq to suspend trading of Luckin Coffee shares from Monday

It was one of the fastest growing startups in modern history and one of the most anticipated IPOs of 2019. But now, following the company’s disclosure of a potential fraud of hundreds of millions of dollars, Luckin’s journey is starting to meet its end.

Luckin Coffee will unluckin’ly delist from Nasdaq following fraud allegations

Luckin Coffee Inc said on Friday Nasdaq Inc notified the Chinese coffee chain that its shares would be suspended at the open on Monday.

Luckin shares to be suspended on Monday

Luckin Coffee Inc. LK, -40.33% said Friday that it will be delisted from the Nasdaq

Luckin Coffee to be delisted from the Nasdaq

Don't get sucked into gambling with LK stock, the firm is far too risky for the majority of investors to take a chance on
The post Tempting as It May Be, Luckin Stock Isn’t Worth the Immense Risk appeared first on InvestorPlace.
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Tempting as It May Be, Luckin Stock Isn’t Worth the Immense Risk

BEIJING, June  26, 2020  (GLOBE NEWSWIRE) -- Luckin Coffee Inc. (the “Company”) (NASDAQ: LK) today announced the following:

Luckin Coffee Announces Withdrawal of its Request for Nasdaq Hearing

Due to an accounting scandal, Luckin Coffee never has to worry about making the headlines this year. But that alone isn’t a great reason to buy LK stock.

News for Luckin Coffee Stock (LK)