Luckin Announces the Substantial Completion of the Internal Investigation
Retrieved on:
Wednesday, July 1, 2020
In the course of the Internal Investigation, the Special Committee and its advisors reviewed over 550,000 documents collected from over 60 custodians, interviewed over 60 witnesses, and performed extensive forensic accounting and data analytics testing.
Key Points:
- In the course of the Internal Investigation, the Special Committee and its advisors reviewed over 550,000 documents collected from over 60 custodians, interviewed over 60 witnesses, and performed extensive forensic accounting and data analytics testing.
- The Special Committee based its recommendations regarding Mr. Charles Zhengyao Lu on documentary and other evidence identified in the Internal Investigation and its assessment of Mr. Charles Zhengyao Lus degree of cooperation in the Internal Investigation.
- The Company is chartering an internal audit function to test and evaluate its control functions.The Company will also strengthen ongoing compliance training to its employees.
- Luckin Coffee Inc.(OTC: LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high affordability, and high convenience to customers.