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LKNCY.US
id: 536

Luckin Coffee Inc. Securities Litigation

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Court
20-CV-01293
Case number
17 May 2019
Class period Start
01 Apr 2020
Class period End
15 Mar 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.
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Filing date
13 February 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
22 July 2022
Objection deadline
24 June 2022
Hearing deadline
24 June 2022
+$175,000,000
Total Settlement Amount

Luckin Coffee

Luckin Coffee Inc. offers retail services of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China. It offers hot and iced freshly brewed coffee, such as Ame...

    Ticker
    LKNCY.US
    ISIN
    US54951L1098
    CIK
    1767582
    Sector
    Consumer Cyclical
    Industry
    Restaurants
    Country
    USA
    Address
    Haixi Jingu Plaza, Building T3, Xiamen, China, 361008