NASDAQ: LK Investor Alert: Lawsuit against Luckin Coffee Inc. announced by Shareholders Foundation

ACCESSWIRE

Tue, Apr 7, 2020, 7:05 AM

SAN DIEGO, CA / ACCESSWIRE / April 7, 2020 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Luckin Coffee Inc. (LK) shares.

Investors, who purchased shares of Luckin Coffee Inc. (LK), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 13, 2020, a lawsuit was filed against Luckin Coffee Inc over alleged Securities Laws Violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that 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, that Luckin's financial results thus overstated the Company's financial health and were consequently unreliable, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

On April 2, 2020, Luckin Coffee Inc disclosed that it is investigating reports that senior executives and employees fabricated transactions totaling 2.2 billion yuan ($310 million) and, as a result, investors could not rely on its previous financial statements for the nine months ended September 30, 2019.

Those who purchased Luckin Coffee Inc. (LK) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

View source version on accesswire.com:
https://www.accesswire.com/584165/NASDAQ-LK-Investor-Alert-Lawsuit-against-Luckin-Coffee-Inc-announced-by-Shareholders-Foundation

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NASDAQ: LK Investor Alert: Lawsuit against Luckin Coffee Inc. announced by Shareholders Foundation

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