LUCKIN COFFEE INC.

LK
Real-time BATS EXCHANGE - 06/02 05:29:37 pm
2.245USD
+12.99%

BARBUTO & JOHANSSON LITIGATION UPDATE: LUCKIN COFFEE (NASDAQ: LK) SHARES HALTED, CHAIRMAN ATTEMPTS TO LIMIT ASSOCIATED FALLOUT

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04/08/2020 | 05:20 pm

WELLINGTON, Fla., April 08, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action Experience, including cases against ENRON and Halliburton) remind investors of the class action lawsuit has been filed on behalf of purchasers of the securities of Luckin Coffee Inc. (NASDAQ: LK): (1) from May 17, 2019 through April 2, 2020, inclusive (the "Class Period"); (2) in or traceable to the Company’s public offering of ADSs conducted on or around May 17, 2019 (the "IPO"); and/or (3) in or traceable to the Company’s public offering of ADSs conducted on or around January 10, 2020 (the “2020 Offering”). The lawsuit seeks to recover damages for Luckin investors under the federal securities laws.  Purchasers of Luckin stock (except defendants) at any time through April 2, 2020 may contact the attorneys below immediately.

Stock trading in Luckin was halted on April 7, 2020 and continues to be halted.  The Chairman of China’s upstart Starbucks rival, Charles Zhengyao Lu, is seeking to distance himself from his network of other companies in an attempt to limit any potential associated fallout.  Mr. Lu’s other businesses include China Auto Rental, China’s largest online car rental company, and Ucar, a chauffeur-car service.   In an interview with the Financial Times, company executives said Mr. Lu would consider stepping down as Chairman of China Auto Rental to distance itself from Luckin.

If you purchased shares in Luckin Coffee, contact Anthony Barbuto, at (888) 715-2520 or via email at anthony@barjolaw.com; or Neil Rothstein at (330) 860-4092 or email at neil@barjolaw.com.  An attorney will contact you to discuss this case and your options as a class member.

BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir, 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.”  BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case.   

Barbuto & Johansson, P.A.

Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
www.barjolaw.com

Source: Barbuto & Johansson

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