Luckin Coffee Inc said on Tuesday that Nasdaq Inc has given it notice that it plans to delist it from the U.S. stock exchange a month after the Chinese coffee chain disclosed that some of its employees fabricated sales accounts.
) has given it notice that it plans to delist it from the U.S. stock exchange a month after the Chinese coffee chain disclosed that some of its employees fabricated sales accounts.
Luckin said in early April that as much as 2.2 billion yuan in sales last year were fabricated by its chief operating officer Jian Liu and other staff, who had been suspended while the company carried out its investigation. Luckin plans to challenge the move before a Nasdaq hearing panel, and will remain listed until this delivers an outcome, most likely in the next two months, the company added.
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