Luckin Coffee China News. Shares of china's luckin coffee plummet 80% after investigation finds coo fabricated sales published thu, apr 2 2020 9:01 am edt updated thu, apr 2 2020 11:31 am edt amelia lucas China's luckin coffee had hopes of being as successful with american investors as its rival starbucks.
[photo/sipa] the state administration for market regulation, the top market regulator. But following an accounting scandal, luckin is now heading to wall street's graveyard. Is opening stores at a breakneck pace in china and pledging internal company change as it tries to move beyond an escalating scandal involving $310 million in fraudulent sales.
The battle is just beginning for.
A network of fake buyers and a fictitious employee the highflying. In china, people drink an average of 6 cups of coffee a year compared with almost 500 in u.s., eu, japan and south korean market. On tuesday, the company announced sacking chief operating. Consider luckin coffee inc., the disgraced chinese coffee chain.