Lu Zhengyao

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.

Barbuto & Johansson Litigation Update: Luckin Coffee (NASDAQ: LK) Trade Halt Continues While Goldman Sachs Reports That Entity Controlled by Chairman and Founder Lu Zhengyao’s Family Trust Defaulted on $518 Million of Margin Debt

Retrieved on: 
Monday, April 13, 2020

The stock tumbled further to $4.39 last Monday at the close, before trading was halted and has yet to reopen.

Key Points: 
  • The stock tumbled further to $4.39 last Monday at the close, before trading was halted and has yet to reopen.
  • Investment banks have extended margin loans to Luckin Coffees founder and chairman Lu Zhengyao with the companys securities as collateral, according to reports.
  • Goldman Sachs (GS) said that an entity controlled by Lus family trust defaulted on $518 million of margin debt and that a group of lenders had seized almost 80% of the companys total float.
  • An attorney will contact you to discuss this case, your options as a class member or any questions you have about this process.

BARBUTO & JOHANSSON LITIGATION UPDATE: LUCKIN COFFEE (NASDAQ: LK) SHARES HALTED, CHAIRMAN ATTEMPTS TO LIMIT ASSOCIATED FALLOUT

Retrieved on: 
Wednesday, April 8, 2020

Purchasers of Luckin stock (except defendants) at any time through April 2, 2020 may contact the attorneys below immediately.

Key Points: 
  • Purchasers of Luckin stock (except defendants) at any time through April 2, 2020 may contact the attorneys below immediately.
  • The Chairman of Chinas upstart Starbucks rival, Charles Zhengyao Lu, is seeking to distance himself from his network of other companies in an attempt to limit any potential associated fallout.
  • If you purchased shares in Luckin Coffee, contact Anthony Barbuto, at (888) 715-2520 or via email at [email protected] ; or Neil Rothstein at (330) 860-4092 or email at [email protected] .
  • BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case.