NEW YORK, Feb. 22, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Luckin Coffee Inc. (LK) between November 13, 2019 and January 31, 2020, inclusive (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than April 13, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
To join the class action, http://zhanginvestorlaw.com/join-action-form/?slug=luckin-coffee-inc&id=2174call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
According to the lawsuit, throughout the Class Period, defendants and its senior executives presented false and misleading financial statements or omitted to (1) 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; (2) Luckin’s financial results thus overstated the Company’s financial health and were consequently unreliable; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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