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An expert tech investor beating 97% of his peers reveals the most important trends in his portfolio — and breaks out his top 3 stock picks for the next decade Luckin announced in its disclosure that the firm will conduct an internal investigation through its board of directors and law office Kirkland & Ellis LLP. The chain suspended individuals involved in the misconduct, according to its April disclosure.
The investigation resurfaces challenges between regulators and Chinese firms staging US stock offerings. The SEC said in an April 21that enforcement of regulatory actions against international firms"may be limited," and cautioned investors to understand the related risks. China, in particular, has"significant legal and other obstacles to obtaining information" necessary in an investigation, the agency added. The country recently implemented a new law that requires citizens and companies to gain approval from China's market regulators before cooperating with international authorities.
Source: News Formal (newsformal.com)
What? Luckin Coffee used the FraudFormula? 🚩False Sales Projections (based off investor ROI & not what the market can bear) + 🚩Appearance of Hypergrowth (underreports safety, regulatory & compliance issues) = 🚩Overvaluation Fraud TheSociopathicBusinessModel $LK
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WSJ News Exclusive | SEC Investigates Starbucks China Rival Luckin Over Accounting ScandalThe Securities and Exchange Commission is investigating Luckin Coffee’s disclosure that some of its employees cooked its books last year, according to people familiar with the matter. Simply revoke their listings on the NYSE. NYSE stevenmnuchin1 realDonaldTrump Of course they are -- this is the new Cold War propaganda the US media/gov is drumming up. Ho Hum.... Comunism is trying to delete democracy in Europe and USA.
Source: WSJ - 🏆 98. / 63 Read more »
Luckin Coffee delays annual filing amid accounting probesLuckin Coffee Inc said on Wednesday it would not file its annual financial report on time as it was dealing with investigations into hundreds of millions of dollars worth of fabricated sales. Is it good coffee?
Source: Reuters - 🏆 2. / 97 Read more »
WSJ News Exclusive | SEC Investigates Starbucks China Rival Luckin Over Accounting ScandalThe Securities and Exchange Commission is investigating Luckin Coffee’s disclosure that some of its employees cooked its books last year, according to people familiar with the matter. Simply revoke their listings on the NYSE. NYSE stevenmnuchin1 realDonaldTrump Of course they are -- this is the new Cold War propaganda the US media/gov is drumming up. Ho Hum.... Comunism is trying to delete democracy in Europe and USA.
Source: WSJ - 🏆 98. / 63 Read more »
Scrutiny mounts on China's Luckin Coffee as market regulator inspectsChina's top market regulator has launched an inspection into Luckin Coffee , joining the country's securities watchdog in doing so as the coffee chain comes under scrutiny for fabricating millions of dollars worth of sales deals. They are inspecting NOW? Little late, don‘t you think?
Source: Reuters - 🏆 2. / 97 Read more »
The Paycheck Protection Program Is Up And Running Again After Weeks Of Controversy—Here’s What You Need To KnowThe Paycheck Protection Program is up and running again after weeks of controversy—here’s what you need to know: by theothersarahh theothersarahh Except the Etran system is not. theothersarahh We need to know that Communism comes disguised as government handouts.
Source: Forbes - 🏆 394. / 53 Read more »
U.S. banks in another mad grab for $310 billion in new small-business aidU.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small-business aid released by the government, after 11th-hour changes to the first-come-first-served program led to technology issues for some lenders. What is she trying to measure ? If only there was an IG overseeing this money, instead of a couple of Trump's trick poodles. realDonaldTrump This kind of stupid mad dash to the money will not help the overall economy. realDonaldTrump SpeakerPelosi
Source: Reuters - 🏆 2. / 97 Read more »