Scott+Scott Attorneys at Law LLP Investigates Luckin Coffee Inc.’s Directors and Officers for Breach of Fiduciary Duties – LKNCY
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Luckin Coffee Inc. (“Luckin”) (OTC: LKNCY) breached their fiduciary duties to Luckin and its shareholders. If you are a Luckin shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or email@example.com.
Scott+Scott is investigating whether members of Luckin’s Board of Directors (the “Board”) made, or caused Luckin to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Luckin’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) certain of Luckin’s financial performance metrics, including per-store per-day sales, net selling price per item, advertising expenses, and revenue contribution from “other products” were inflated; (2) Luckin’s financial results thus overstated the Company’s financial health and were consequently unreliable; and (3) as a result, statements about Luckin’s business, operations, and prospects lacked a reasonable basis.
On April 2, 2020, Luckin announced it believed then-Chief Operating Officer Jian Liu and employees who reported to him fabricated financial information beginning in the second quarter of 2019, thus requiring a restatement of Luckin’s financial statements. On December 16, 2020, it was reported that Luckin agreed to pay $180 million to resolve an investigation by the U.S. Securities and Exchange Commission.
What You Can Do
If you are a Luckin shareholder, you may have legal claims against Luckin’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or firstname.lastname@example.org.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.