Luckin Coffee Inc. (LK)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Luckin Coffee Inc. (LK)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Luckin Coffee Inc. (“Luckin” or the Company”) (NASDAQ: LK). The investigation concerns whether Luckin and certain of its officers and/or directors have violated federal securities laws.
On January 31, 2020, Muddy Waters Research published an anonymous report that claimed Luckin fabricated several financial figures, starting in the third quarter of 2019. The article continued to state that Luckin overstated the number of items per store per day based on a review of over eleven thousand hours of store video. The article also said that Luckin exaggerated its net selling price of each item by over 12.3%. Following this news, Luckin’s ADRs dropped during intraday trading on January 31, 2020.
If you are aware of any facts relating to this investigation, or purchased Luckin shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.