Luckin Coffee Inc. Securities Litigation

S.D. New York

Court

20-CV-01293

Case number

05/17/2019

Class period Start

04/01/2020

Class period End

03/15/2022

Claim deadline

Luckin Coffee Inc. (LK) agreed to pay up to $175 million to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that: 
certain of Luckin’s financial performance metrics, including per-store per-day sales, the net selling price per item, advertising expenses, and revenue contribution from “other products” were inflated; 
Luckin’s financial results thus overstated the Company’s financial health and were consequently unreliable.

Case Status

Disbursement

Alleged Offence

Other

Suspected Party

Other

Security Type

Depository Securities (ADS, ADR, GDR)

Trade Direction

Long

Filing date

02/13/2020

Plaintiffs

Sjunde AP-Fonden, Louisiana Sheriffs’ Pension & Relief Fund

Attorneys

Bernstein Litowitz Berger & Grossmann LLP (New York, NY), Kessler Topaz Meltzer & Check LLP (Radnor, PA)

Defendants

Hui Li, Erhai Liu, Jinyi Guo, Sean Shao, Thomas P. Meier

Judge

Hon. Lewis J. Liman

Administrator

EPIQ

Court hearing date

07/22/2022

Objection deadline

06/24/2022

Hearing deadline

06/24/2022

Trades matching type

FIFO

+$175,000,000

Cash Settlement Amount