Luckin Coffee 'stands by its business model' after anonymous report alleges fraud [MarketWatch]
Luckin Coffee Inc. (LK)
Last luckin coffee inc. earnings: 11/13 06:00 am
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Source: MarketWatch
Luckin Coffee 'stands by its business model' after anonymous report alleges fraud Luckin Coffee Inc. LK, +2.86% issued a statement Monday saying it "categorically denies all allegations" made in an anonymous report that claims the company is fabricating financial and operating figures. "The methodology of the report is flawed, the evidence is unsubstantiated, and the allegations are unsupported speculations and malicious interpretations of events," the statement says. The report, received by short seller Muddy Waters Research, was made public on Friday . MarketWatch could not confirm the authenticity of the report, but Luckin Coffee addresses a number of claims it says are in it, including one that says the items per store per day number was inflated in the third and fourth quarters of 2019. "Every single order that customers placed with Luckin Coffee is online and automatically recorded in its system, and payments for orders went through third-party payment service providers," Luc
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