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China’s Starbucks Rival Denies Fraud Allegations

By
Juro Osawa
· · Source: The Information

Last Friday, shares of Luckin Coffee plunged on Nasdaq because of an anonymous report received and published by short seller Muddy Waters Research alleging the Chinese coffee chain fabricated some of its financial and operational figures. On Monday, Luckin Coffee issued a press release categorically denying all allegations in the report. “The methodology of the report is flawed, the evidence is...

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