Scott+Scott Attorneys at Law LLP Announces Investigation into Luckin Coffee Inc. (LK)

NEW YORK, Feb. 4, 2020 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is investigating whether Luckin Coffee Inc. ("Luckin Coffee" or the "Company") (NASDAQ: LK), or certain of its officers and directors violated federal securities laws.  If you purchased Luckin American Depository Shares ("ADSs"), you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman for additional information at (888) 398-9312 or [email protected].

The investigation concerns whether Luckin engaged in securities fraud, particularly whether the Company issued false or misleading statements.

On January 31, 2020, Muddy Waters Research ("Muddy Waters") published a report alleging that Luckin had fabricated certain of the Company's financial performance metrics, beginning in the third quarter of 2019.  The Muddy Waters report asserted that Luckin inflated its per-store per-day sales figures, citing a review of thousands of hours of store video, and that Luckin significantly inflated its net selling price per item.

On this news, the price of Luckin ADSs fell $3.91 per share – 10.74% – to close at $32.49 per share on January 31, 2020.

What You Can Do

If you purchased Luckin securities, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or [email protected].

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States.  The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.

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CONTACT:

Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP 
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(888) 398-9312
[email protected]

SOURCE Scott+Scott Attorneys at Law LLP

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http://scott-scott.com

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