Luckin Coffee board moves to oust chairman [Toronto Globe and Mail (Ontario, Canada)]
Luckin Coffee Inc. (LK)
Last luckin coffee inc. earnings: 11/13 06:00 am
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Source: Toronto Globe and Mail
Luckin Coffee board moves to oust chairman A cup of Luckin Coffee is poured during the company's IPO at the Nasdaq Marketsite in New York on May 17, 2019. Brendan McDermid/Reuters A cup of Luckin Coffee is poured during the company's IPO at the Nasdaq Marketsite in New York on May 17, 2019. 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. The China-based company’s stock closed 54% down on Friday after it said that 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 a delisting notice. The Nasdaq’s reasons for delisting include public concerns raised by the fabricated transactions, the company’s failure to disclose material information and to file its annual report. The company disclosed in April that its chief operating officer and other st
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