SAN DIEGO, April 2, 2020 /PRNewswire/ --
Shareholder Rights Law Firm Johnson Fistel, LLP, is
investigating potential claims against Luckin Coffee Inc. ("Luckin"
or the "Company") (NASDAQ: LK) for violations of federal securities
laws.
On or about January 15, 2020,
Luckin sold 4.8 million shares of stock in a secondary stock
offering at $42.00 a share, raising
over $380 million in new capital.
On April 2, 2020, Luckin announced
that the Chief Operating Officer Jian
Liu and several employees reporting to him engaged in
misconduct that cast doubts on the foundations of the Chinese
coffee chain's meteoric rise and its emergence as a key competitor
to Starbucks Corp.
Luckin further stated, "certain costs and expenses were also
substantially inflated by fabricated transactions during this
period," The Company indicated that investors shouldn't rely on
previous financial statements for the nine months ended
September 30, 2019.
Following this news, shares of Luckin plummeted over 70% in
early morning trading on April 2,
2020.
If you purchased Luckin shares in the January 2020 secondary offering, and are
interested in learning more about the investigation, please contact
Jim Baker (jimb@johnsonfistel.com)
at 619-814-4471. If emailing, please include a phone
number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a
nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonfistel.com. Attorney
advertising. Past results do not guarantee future outcomes.
Contact:
Johnson
Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP