A delivery man leaves a Luckin Coffee outlet in Beijing. The coffee chain is preparing to be delisted from Nasdaq after an accounting scandal. Photo: ReutersA delivery man leaves a Luckin Coffee outlet in Beijing. The coffee chain is preparing to be delisted from Nasdaq after an accounting scandal. Photo: Reuters
A delivery man leaves a Luckin Coffee outlet in Beijing. The coffee chain is preparing to be delisted from Nasdaq after an accounting scandal. Photo: Reuters

Luckin Coffee drops co-founder Charles Lu Zhengyao as chairman of new board, keeps investors guessing on who’s in charge of scandal-tainted chain

  • Luckin reconstitutes boardroom with more members, a week after a special meeting in Beijing
  • SEC filing does not indicate if co-founder Lu has offered to resign or been removed

Topic |   Stocks
A delivery man leaves a Luckin Coffee outlet in Beijing. The coffee chain is preparing to be delisted from Nasdaq after an accounting scandal. Photo: ReutersA delivery man leaves a Luckin Coffee outlet in Beijing. The coffee chain is preparing to be delisted from Nasdaq after an accounting scandal. Photo: Reuters
A delivery man leaves a Luckin Coffee outlet in Beijing. The coffee chain is preparing to be delisted from Nasdaq after an accounting scandal. Photo: Reuters

Corrected [10:52am, 14 Jul, 2020]

  • [10:52am, 14 Jul, 2020]

    Corrects the yuan value of fabricated sales in the third paragraph

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