Luckin Coffee COO suspended for alleged financial misconduct
The Chinese coffee chain’s shares sank more than 80% after the announcement
02 April 2020 - 18:15
Bengaluru — Shares of Luckin Coffee sank 81% on Thursday after the Chinese coffee chain said it had suspended its COO and several other employees for financial misconduct, including fabricating certain transactions.
The company said the suspensions were the result of initial recommendations from a special committee appointed to investigate issues in its consolidated financial statements for the fiscal year ended December 31...
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