China’s ramped-up efforts to crack down on market excesses coincides with its latest promise to wield the big stick at Luckin Coffee. Photo: Bloomberg
China gives its 160 million individual investors the green light for class action lawsuits in historic reform after scandals involving Luckin Coffee, Kingold Jewelry
- Authorities recently named and shamed Kingold Jewelry, promised to punish Luckin Coffee for accounting fraud
- Class action lawsuits allow individual investors to pool similar claims against a lone defendant to save cost and time, ease pressure on courts
China’s ramped-up efforts to crack down on market excesses coincides with its latest promise to wield the big stick at Luckin Coffee. Photo: Bloomberg
