Defendant Name:
Luckin Coffee Inc.
Defendant Type:
Public Company
Document Reference:
LR-24987
Document Details
Legal Case Name
SEC v. Luckin Coffee, Inc.
Document Name
Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges
Document Date
16-Dec-2020
Document Format
Civil Proceeding
Case Number
20-cv-10631
Federal District Court
New York, Southern District of New York
Allegation Type
Issuer Reporting and Disclosure
Document Summary
The SEC stated that: "[It] charged China-based company Luckin
Coffee Inc. with defrauding investors by materially misstating the company's revenue,
expenses, and net operating loss in an effort to falsely appear to achieve rapid growth
and increased profitability and to meet the company's earnings estimates. Luckin, whose
American Depositary Shares traded on the NASDAQ until July 13, 2020, has agreed to
pay a $180 million penalty to resolve the charges."
Disgorgement & Penalty Information
Resolutions
Injunction
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$180,000,000.00
Shared: