Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check, LLP Announce Provisional Certification of Class Action Involving Purchasers of Luckin Coffee Inc. American Depository Shares

NEW YORK, August 5, 2021 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION

To:  All persons and entities (and their beneficiaries) that purchased or otherwise acquired the American Depository Shares of Luckin Coffee Inc. (In Provisional Liquidation) between May 17, 2019 through July 15, 2020, inclusive (the "Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York that the above-captioned action (the "Action") has been provisionally certified to proceed as a class action on behalf of the Class described above, for settlement purposes.  Please note: at this time, there is no judgment, settlement, or monetary recovery. 

IF YOU ARE A MEMBER OF THE CLASS, your rights may be affected. The Class has been provisionally certified solely for the purpose of effectuating a potential settlement with Defendant Luckin Coffee Inc. (In Provisional Liquidation) ("Luckin") in this Action and pursuant to the relevant legislation under Cayman Islands law, including but not limited to presenting a scheme of arrangement under section 86 of the Companies Act (2021 Revision) (referred to herein as a "Settlement"). More details are provided in the full Notice of Pendency of Class Action ("Notice"), which is currently being mailed to known potential Class Members.

If you have not yet received the full printed Notice, you may obtain a copy of the Notice by downloading it from www.LuckinCoffeeSecuritiesLitigation.com, or by contacting the Notice Administrator by toll-free phone at 1-855–535-1824, by email at [email protected],  or in writing at:

In re Luckin Coffee Inc. Securities Litigation
c/o Epiq
P.O. Box 5887
Portland, OR 97228-5887

Inquiries, other than requests for the Notice, may be made to the following representatives of Class Counsel:

Salvatore J. Graziano, Esq.
BERNSTEIN LITOWITZ BERGER
& GROSSMANN LLP
1251 Avenue of the Americas
New York, NY 10020
1-800-380-8496

Sharan Nirmul, Esq.
KESSLER TOPAZ MELTZER
& CHECK, LLP
280 King of Prussia Road
Radnor, PA 19087
1-610-667-7706

If you are a Class Member, you have the right to decide whether to remain a member of the Class. If you want to remain a member of the Class, you do not need to do anything at this time. If you are a Class Member and do not exclude yourself from the Class, you will be bound by all proceedings in this Action that pertain to the Class and any Settlement reached. If you move, or if the Notice was mailed to an old or incorrect address, please send the Notice Administrator written notification of your new address.

If you ask to be excluded from the Class, under U.S. law, you will not be bound by any order or judgment of this Court in this Action that pertains to the Class; however, you may not be entitled to participate in or be eligible to share in any Settlement reached, except for where the Settlement is effected by a scheme of arrangement under section 86 of the Cayman Islands' Companies Act, which may be binding on all members of the Class irrespective of whether they choose to be excluded from the Class or not. To exclude yourself from the Class, you must submit a written request for exclusion postmarked no later than September 17, 2021, in accordance with the instructions set forth in the full printed Notice. Pursuant to Rule 23(e)(4) of the Federal Rules of Civil Procedure, it is within the Court's discretion as to whether a second opportunity to request exclusion from the Class will be allowed in the event there is a Settlement.

The Settlement may be effected through a scheme of arrangement process under the laws of the Cayman Islands ("Scheme"). If the Scheme is sanctioned by the Grand Court of the Cayman Islands ("Grand Court"), it will be binding on all creditors of the same class. Whether creditors are of the same class pursuant to the Scheme is a matter of Cayman Islands law but in the likely event that the Grand Court finds that all members of the Class for the purposes of U.S. law are also creditors of the same class under the Scheme, then the Scheme, once sanctioned, will be binding on you regardless of whether you exclude yourself from the Class. If you remain a member of the Class, your interests will be represented in the Scheme process by the Class Representatives and Class Counsel appointed by this Court, as well as by Cayman counsel retained by Class Counsel.  If you exclude yourself from the Class, you must participate directly in the Scheme process in order to have your interests represented there.

Further information regarding this notice may be obtained by writing to the Notice Administrator at the address provided above.

PLEASE DO NOT CONTACT THE COURT REGARDING THIS NOTICE.

BY ORDER OF THE COURT:
United States District Court for the
Southern District of New York

SOURCE Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check, LLP

Related Links

http://www.LuckinCoffeeSecuritiesLitigation.com