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Case Status:    ONGOING    
On or around 06/26/2020 (Date of last review)

Filing Date: February 13, 2020

According to the Complaint, Luckin Coffee Inc. engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in China, offering freshly brewed drinks, including freshly brewed coffee and non-coffee drinks, and food and beverage items, such as light meals. The Company operates pick-up stores, relax stores, and delivery kitchens under the Luckin brand, as well as Luckin mobile app, Weixin mini-program, and other third-party platforms that cover the customer purchase process.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) certain of Luckin’s financial performance metrics, including per-store per-day sales, net selling price per item, advertising expenses, and revenue contribution from “other products” were inflated; (ii) Luckin’s financial results thus overstated the Company’s financial health and were consequently unreliable; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On May 15, 2020, the Court issued an Order consolidating cases. The Court issued an Order appointing Lead Plaintiff and Counsel on June 12.

COMPANY INFORMATION:

Sector: Services
Industry: Restaurants
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: LK
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 20-CV-01293
JUDGE: Hon. Lewis J. Liman
DATE FILED: 02/13/2020
CLASS PERIOD START: 11/13/2019
CLASS PERIOD END: 01/31/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
  2. Pomerantz LLP (New York)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available