A server fills up a cup of Luckin Coffee in China. Photo: SCMPA server fills up a cup of Luckin Coffee in China. Photo: SCMP
A server fills up a cup of Luckin Coffee in China. Photo: SCMP

Luckin Coffee’s founder says sorry as Nasdaq prepares to kick out his stock for fraud, in the first expulsion of a Chinese company

  • The decision was based on ‘public interest concerns’ over fabricated transactions recently disclosed by Luckin, as well as its past failures to publicly disclose information
  • The scandal has undermined confidence in the accounting practices and financial reporting of Chinese companies listed abroad

Topic |   Financial regulation
A server fills up a cup of Luckin Coffee in China. Photo: SCMPA server fills up a cup of Luckin Coffee in China. Photo: SCMP
A server fills up a cup of Luckin Coffee in China. Photo: SCMP
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