INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Luckin Coffee Inc.
Luckin Coffee Inc. (LK)
Last luckin coffee inc. earnings: 11/13 06:00 am
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Luckin Coffee Inc. (“Luckin” or the “Company”) (NASDAQ: LK). This investigation concerns whether Luckin has violated federal securities laws and/or engaged in other unlawful business practices.On January 31, 2020, Muddy Waters Research published a report alleging that Luckin “had evolved into a fraud by fabricating financial and operating numbers starting in [the] 3rd quarter 2019.” Among other allegations, Muddy Waters claims that the “[n]umber of items per store per day was inflated by at least 69% in 2019 3Q and 88% in 2019 4Q” and that “Luckin inflated its net selling price per item by at least RMB 1.23 or 12.3%.”On this news, Luckin’s share price declined by $3.91 (or approximately 11%) on January 31, 2020.If you acquired Luckin securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-660
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