Civil case
Securities and Exchange Commission v. Luckin Coffee Inc.
- Authority
- US Securities and Exchange Commission, before the US District Court for the Southern District of New York
- Case number
- Press Release 2020-319
- Filed or opened
- 16 December 2020
- Organization
- Luckin Coffee Inc.
- Current stage
- Settled without admitting or denying, approved by the court, penalties satisfied
- Outcome
- Final settlement. No admission or finding.
Decisions and steps
Claims this case bears on
- Supported80An anonymous short seller report in early 2020 alleged that Luckin Coffee inflated its sales.Company statement, 3 February 20203 records citedAccounting
- Contradicted84Luckin Coffee said on 3 February 2020 that it categorically denied all allegations in the anonymous report and that the report's evidence was unsubstantiated.Company statement, 3 February 20203 records citedDisclosure
- Partly supported82An undated Jiemian report said Luckin Coffee later paid US$180 million in penalties over the 2020 fabricated revenue.Press report, Not shown on page3 records citedFraud
Sources
- S3Tier A Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud ChargesUS Securities and Exchange Commission. Regulator press release. 16 December 2020.SEC charges and settlement without admitting or denying. It is not a finding of fact and does not show final payment.
- S6Tier B Luckin Coffee Inc. Form 20-F for the fiscal year ended 31 December 2023Luckin Coffee Inc. (Form 20-F, SEC EDGAR). Company filing. Fiscal year ended 31 December 2023, filed 2024.Company account of the court approval and the SEC notice that the penalties were satisfied. It does not say how much was offset by payments to security holders.