Luckin Coffee Inc (LKNCY): Why I'm happy Lu is gone and hope he...

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Luckin Coffee Inc (LKNCY)

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Sunday, 07/05/2020 3:21:12 PM

Sunday, July 05, 2020 3:21:12 PM

Why I'm happy Lu is gone and hope he forfeits his shares tomorrow.
"https://seekingalpha.com/news/3588564-luckin-chairman-knew-should-known-fabricated-deals-wsj?mail_subject=lk-luckin-chairman-knew-or-should-have-known-about-fabricated-deals-wsj&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha

"Luckin chairman knew or should have known about fabricated deals - WSJ
Jul. 5, 2020 11:28 AM ET|About: Luckin Coffee Inc. (LK)|By: Liz Kiesche, SA News Editor

An investigation conducted by a special committee of Luckin Coffee's (NASDAQ:LK) board concludes that the company's chairman, Charles Lu, knew or should have known about bogus transactions that inflated the Chinese coffee chain's sales last year, the Wall Street Journal reported, citing a person familiar with the matter.

A report describing the investigation also said that Lu didn't fully cooperate with the investigation.

The probe said Lu was aware of certain related-party transactions that weren't properly disclosed, the person said."

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