LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) (NASDAQ: LK) investors concerning the Company and its officers’ possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
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 has fallen more than 10% on January 31, 2020.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Luckin securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.