Luckin gets another de-listing notice from Nasdaq

Luckin gets another de-listing notice from Nasdaq
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(Reuters) – Luckin Coffee Inc (LK.O) disclosed on Tuesday it received a de-listing notice from the Nasdaq Inc (NDAQ.O) last week after the Chinese coffee chain failed to file its annual report.

The company said in a regulatory filing it has not been able to file the report due to the delays caused by the COVID-19 pandemic and as it awaits for the result of an internal investigation on an executive fabricating annual sales. (bit.ly/3fQOMsZ)

The U.S. stock exchange had in May issued a notice to Luckin, citing concerns raised by the fabricated transactions and the company’s failure to disclose material information.

Source: Reuters

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