LKNCY.US
id: 536
Luckin Coffee Inc. Securities Litigation
The process of distributing settlement funds to claimants has started.
$175,000,000
Cash SettlementS.D. New York
Court20-CV-01293
Case number05/17/2019
Class period Start04/01/2020
Class period End03/15/2022
Claim deadlineLuckin Coffee Inc. (LK) agreed to pay up to $175 million to settle a securities class action lawsuit to avoid further litigation.
The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- certain of Luckin’s financial performance metrics, including per-store per-day sales, the net selling price per item, advertising expenses, and revenue contribution from “other products” were inflated;
- Luckin’s financial results thus overstated the Company’s financial health and were consequently unreliable.
Case Status
Disbursement
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Filing date
02/13/2020
Plaintiffs
Sjunde AP-Fonden, Louisiana Sheriffs’ Pension & Relief Fund
Attorneys
Bernstein Litowitz Berger & Grossmann LLP (New York, NY), Kessler Topaz Meltzer & Check LLP (Radnor, PA)
Defendants
Hui Li, Erhai Liu, Jinyi Guo, Sean Shao, Thomas P. Meier
Judge
Hon. Lewis J. Liman
Administrator
EPIQ
Court hearing date
07/22/2022
Objection deadline
06/24/2022
Hearing deadline
06/24/2022
Trades matching type
FIFO