After grinding investigation, Luckin Coffee confirms $300 million revenue fraud

Luckin Coffee’s drips and drops of news the past few weeks — including a boardroom feud that is pitting the company’s chairman against a special investigation committee looking into an alleged massive fraud — is now turning into a flood. Luckin Coffee will unluckin’ly delist from Nasdaq following fraud allegations In a new SEC filing this morning, the company’s Special Committee, which was tasked with investigating claims that the one-time China-based coffee darling overstated its revenues by hundreds of millions of dollars, has returned with its verdict.

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