1026日,中国连锁咖啡店瑞幸咖啡就股东集体诉讼达成了1.75亿美元的和解协议。瑞幸之前被指虚报营收,欺诈性地抬高股价。

瑞幸投资者代理律所为Kessler Topaz Meltzer & CheckBernstein Litowitz Berger & Grossmann,两家律所都专注于在证券欺诈中代理投资者。瑞幸代理律所则为达维律师事务所。

瑞幸2019年在美国纳斯达克上市。据路透社报道,20202月,做空机构浑水发布报告,称瑞幸虚报营收数据,股东于当月对瑞幸提起诉讼。20204月,瑞幸经内部调查发现,其首席运营官及其他员工在2019年虚报了约40%的年销售额。

美国证券交易委员会认为,欺诈发生期间,瑞幸共从股权和债券投资者手中筹得超过8.64亿美元资金。去年12月,瑞幸向美国证交会支付1.8亿美元罚金,用以和解会计欺诈指控。

美国曼哈顿地区法官John Cronan安排在2022131日举行听证会以考虑最终批准该协议。这项和解还需要开曼群岛法院的批准。

瑞幸否认有不法行为。截至今年3月底,瑞幸拥有约五千家门店。

上周,中国社交平台人人网刚刚在美国与股东达成和解协议,将创建金额高于3亿美元的和解基金

 

Luckin Coffee and investors settle on $175 mln class action

China coffeehouse chain Luckin Coffee has reached a $175 million settlement of shareholder class-action claims that the company fraudulently inflated its share price by falsifying revenue.

The shareholders were represented by Kessler Topaz Meltzer & Check and Bernstein Litowitz Berger & Grossmann, both are acknowledged law firms in the field of plaintiff representation. Meanwhile Luckin was represented by Davis Polk & Wardwell.

Luckin went public on NASDAQ in 2019. According to Reuters, shareholders sued Luckin in February 2020, two weeks after short-seller Muddy Waters Research accused it of inflating revenue. Two months later, the company said an internal probe found that its chief operating officer and other staff fabricated about 40% of annual sales.

The SEC said Luckin raised more than $864 million from equity and debt investors while the fraud was taking place. Luckin agreed last December to pay a $180 million fine to settle SEC’s accounting fraud civil charges.

The final approval is scheduled on Jan. 31, 2022 to be announced. The settlement also requires approval by a Cayman Islands court.

Luckin denied wrongdoing. By the end of March it has about 5,000 stores.

Chinese social media platform Renren Inc. has just reached at least $300 million agreement to resolve its dispute with U.S. shareholders last week.

 

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