INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Luckin Coffee Inc.
February 03 2020 - 10:32PM
Business Wire
The law firm of Kirby McInerney LLP is investigating potential
claims against Luckin Coffee Inc. (“Luckin” or the “Company”)
(NASDAQ: LK). This investigation concerns whether Luckin has
violated federal securities laws and/or engaged in other unlawful
business practices.
On January 31, 2020, Muddy Waters Research published a report
alleging that Luckin “had evolved into a fraud by fabricating
financial and operating numbers starting in [the] 3rd quarter
2019.” Among other allegations, Muddy Waters claims that the
“[n]umber of items per store per day was inflated by at least 69%
in 2019 3Q and 88% in 2019 4Q” and that “Luckin inflated its net
selling price per item by at least RMB 1.23 or 12.3%.”
On this news, Luckin’s share price declined by $3.91 (or
approximately 11%) on January 31, 2020.
If you acquired Luckin securities, have information, or would
like to learn more about these claims, please contact Thomas W.
Elrod of Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200203005850/en/
Kirby McInerney LLP Thomas W. Elrod, Esq. (212) 371-6600
investigations@kmllp.com www.kmllp.com
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