Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Luckin Coffee Inc. (NASDAQ: LK) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Luckin Coffee Inc. (NASDAQ: LK) concerning whether a series of statements by Luckin Coffee Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 31, 2020, an anonymous report was published by Muddy Waters Research alleging that Luckin fabricated several financial figures, starting in the 3rd quarter of 2019. According to the report, Luckin Coffee Inc inflated the number of items per store per day based on a review of over eleven thousand hours of store video and that Luckin inflated its net selling price per item by at least 12.3%.
Following this news, NASDAQ: LK fell sharply during intraday trading on January 31, 2020.
Based in Xiamen, the People's Republic of China, and founded in 2017 Luckin Coffee Inc engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China.
If you purchased shares of Luckin Coffee Inc. (NASDAQ: LK) on or before January 31, 2020, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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