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Violation Tracker Individual Record

Company: Luckin Coffee Inc.
Penalty: $180,000,000
Year: 2020
Date: December 16, 2020
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: The Securities and Exchange Commission charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company's revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth and increased profitability and to meet the company's earnings estimates. Luckin, whose American Depositary Shares traded on Nasdaq until July 13, 2020, agreed to pay a $180 million penalty to resolve the charges.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.