LKNCY.US
id: 536, Created by Stan Vick, Scout
Luckin Coffee Inc. Securities Litigation
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- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
S.D. New York
Court20-CV-01293
Case number17 May 2019
Class period Start01 Apr 2020
Class period End15 Mar 2022
Claim deadlineLuckin 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
Lead plaintiff
Sjunde AP-Fonden, Louisiana Sheriffs’ Pension & Relief Fund
Attorney
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