NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Luckin Coffee, Inc. (NASDAQ: LK) on behalf of Luckin stockholders. Our investigation concerns whether Luckin has violated the federal securities laws and/or engaged in other unlawful business practices.
Click here to participate in the action.
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 fell approximately 17% on January 31, 2020, to close at $32.49 per share.
If you purchased or otherwise acquired Luckin shares and suffered a loss, have information, 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 Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.