China’s top market regulator and securities watchdog are scrutinizing the company’s books, after Luckin said an internal investigation had shown its chief operating officer and other employees fabricated sales deals worth about 2.2 billion yuan ($310.77 million). Earlier on Wednesday, the Wall Street Journal reported the U.S. Securities and Exchange Commission was also investigating Luckin. The company , a rival to Starbucks Corp in China, also said it had limited access to its office buildings in the country due to the coronavirus pandemic, adding to the delay of it 2019 annual report, which was due on April …read more
Source:: Yahoo Finance
