In the early morning of Friday, December 17th, Chinese coffee company Luckin Coffee's debt restructuring plan received recognition from a federal judge in Manhattan.
A Chinese Tesla Model S owner who formerly won a fraud case against the EV firm posted on Weibo on Sunday, saying that he has been sued by Tesla for infringing the firm's reputation.
The fraud scandal hasn’t knocked Luckin out of the ring: today, it remains China's second-largest coffee chain. How did Luckin survive the turmoil?
On Monday, Chinese streaming video service Le.com reported that the China Securities Regulatory Commission (CSRC) had fined the company 240 million yuan ($37 million) for a financial fraud running from 2007 to 2016.
The State Administration for Market Regulation announced on Tuesday morning that it has fined two Luckin entities and 43 third-party companies a combined 61 million yuan (around $9 million).