Fintech
7-DAY DEADLINE REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Luckin Coffee Inc. and Encourages Investors with Losses in Excess of $1,000,000 to Contact the Firm
Los Angeles, California–(Newsfile Corp. – April 6, 2020) – The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Luckin Coffee Inc. (NASDAQ: LK) (“Luckin” or “the Company”) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities (1) from May 17, 2019 through April 2, 2020, inclusive (the “Class Period”); (2) in or traceable to the Company’s public offering of ADSs conducted on or around May 17, 2019 (the “IPO”); and/or (3) in or traceable to the Company’s public offering of ADSs conducted on or around January 10, 2020 (the “2020 Offering”), are encouraged to contact the firm before April 13, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Luckin inflated various financial performance metrics including per-store per-day sales, net selling price per item, advertising expense, and revenue contribution from “other products.” The Company overstated its financial health using unreliable financial statements based on the inflated performance figures. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Luckin, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
SOURCE:
The Schall Law Firm