Luckin Coffee agreed to pay US$180 million to settle accounting fraud accusations by US regulators in a scandal that led to its delisting. PHOTO: Bloomberg
Luckin Coffee to pay US$180 million to settle SEC charges of accounting fraud as it inflated numbers to rival Starbucks
- Luckin Coffee agrees to settlement without admitting or denying wrongdoing
- SEC said Luckin Coffee fabricated more than US$300 million in sales between April 2019 and January 2020
Luckin Coffee agreed to pay US$180 million to settle accounting fraud accusations by US regulators in a scandal that led to its delisting. PHOTO: Bloomberg
