Luckin Coffee Investors Work Toward Stock Suit Settlement
Dean Seal, 08 March 2021
Luckin Coffee and a proposed class of its investors told a New York federal judge that they are working toward a potential resolution of claims that the Chinese coffee chain used “sham transactions” to fake hundreds of millions of dollars in sales.
The parties received approval on Friday from U.S. District Judge John P. Cronan for certification of a settlement class of investors who acquired Luckin securities between its initial public offering in May 2019 and July 2020, when a Cayman Islands court appointed joint provisional liquidators to oversee Luckin’s operations and negotiate with its creditors. Continue reading “Article: Luckin Coffee Investors Work Toward Stock Suit Settlement”
