Workers seen brewing coffee at an outlet in Beijing, China in May 2018. The accounting scandal has erased US$11 billion in the firm’s market value ahead of its delisting from Nasdaq. Photo: EPA-EFE Workers seen brewing coffee at an outlet in Beijing, China in May 2018. The accounting scandal has erased US$11 billion in the firm’s market value ahead of its delisting from Nasdaq. Photo: EPA-EFE
Workers seen brewing coffee at an outlet in Beijing, China in May 2018. The accounting scandal has erased US$11 billion in the firm’s market value ahead of its delisting from Nasdaq. Photo: EPA-EFE
IPO
Business /  Companies

Luckin Coffee asked to reverse boardroom changes after co-founder’s ouster, as China prepares to wield big stick for accounting fraud

  • Shareholders linked to Centurium Capital requisition for meeting to undo some boardroom changes at July 5 meeting
  • Move follows the ouster of co-founder Charles Lu Zhengyao while Chinese authorities ready punishment for accounting scandal

Topic |   IPO
Cheryl Arcibal
Cheryl Arcibal

Updated: 9:44pm, 4 Aug, 2020

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Workers seen brewing coffee at an outlet in Beijing, China in May 2018. The accounting scandal has erased US$11 billion in the firm’s market value ahead of its delisting from Nasdaq. Photo: EPA-EFE Workers seen brewing coffee at an outlet in Beijing, China in May 2018. The accounting scandal has erased US$11 billion in the firm’s market value ahead of its delisting from Nasdaq. Photo: EPA-EFE
Workers seen brewing coffee at an outlet in Beijing, China in May 2018. The accounting scandal has erased US$11 billion in the firm’s market value ahead of its delisting from Nasdaq. Photo: EPA-EFE
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