Luckin Coffee will unluckin’ly delist from Nasdaq following fraud allegations
https://techcrunch.com/2020/06/26/luckin-coffee-will-unluckinly-delist-from-nasdaq-following-fraud-allegations/
It was one of the fastest growing startups in modern history and one of the most anticipated IPOs of 2019. But now, following the company’s disclosure of a potential fraud of hundreds of millions of dollars, Luckin’s journey is starting to meet its end.
The company, in a statement today filed with the SEC, said that it would not contest Nasdaq’s decision to delist the company after having received two notifications in recent weeks of the stock exchange’s desire to push the China-based coffee chain from its market. It will officially stop trading Tuesday morning, meaning that Monday is your last day to trade LK, at least for the time being.