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Luckin Coffee to Pay $180M Penalty in Settlement with SEC
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Luckin Coffee to Pay $180M Penalty in Settlement with SEC

Dec 17, 2020
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Luckin Coffee to Pay $180M Penalty in Settlement with SEC
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(Source: PYMNTS)

On Dec. 16, the Securities and Exchange Commission (SEC) announced that the accounting-fraudulent Luckin Coffee Inc. agreed to pay a $180 million (1.17 billion yuan) penalty for previous charges concerning the company’s fabricated transactions.

According to the SEC’s complaint allegations, the cash-burning coffee chain intentionally fabri…

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