Luckin Coffee Faces Shareholder Lawsuit over Alleged Misleading Company Metrics
Posted on 03/16/2020
Chinese coffee retail company Luckin Coffee Inc. is facing a shareholder lawsuit over alleged mistatements and/or failure to disclosure.
These allegations charge Luckin Coffee on false and/or misleading statements on certain of Luckin’s financial performance metrics, including per-store per-day sales,
net selling price per item,
advertising expenses, and
revenue contribution from “other products”.
SWFI
Luckin Coffee Inc. (NASDAQ:LK)
LK Lawsuit on behalf of: investors who purchased November 13, 2019 – January 31, 2020
Lead Plaintiff Deadline : April 13, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/luckin-coffee-inc-loss-form?prid=5654&wire=1
According to the filed complaint, during the class period,
Luckin Coffee Inc. made materially false and/or misleading statements and/or failed to disclose that:
(i) certain of Luckin’s financial performance metrics, including per-store per-day sales, net selling price per item, advertising expenses, and revenue contribution from “other products” were inflated;
(ii) Luckin’s financial results thus overstated the Company’s financial health and were consequently unreliable; and
(iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
CLASS ACTION UPDATE for WWE, LK and TLRY: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders