Law Offices of Howard G. Smith announces an investigation on behalf of Luckin Coffee Inc. (Luckin Coffee or the Company) (NASDAQ: LK) investors concerning the Company and its officers possible violations of federal securities laws.
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, Luckins share price has fallen approximately 17% on January 31, 2020.
If you purchased Luckin securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.