U.S. securities regulators on Wednesday charged Luckin Coffee Inc. with accounting fraud, alleging that the company, a major Starbucks Corp. competitor in China, fabricated sales and misstated other financial metrics in order to make itself look better to investors.
U.S. securities regulators on Wednesday charged Luckin Coffee Inc. with accounting fraud, alleging that the company, a major Starbucks Corp. competitor in China, fabricated sales and misstated other financial metrics in order to make itself look better to investors.