Luckin gets another de-listing notice from Nasdaq

(Reuters) – Luckin Coffee Inc disclosed on Tuesday it received a de-listing notice from the Nasdaq Inc last week after the Chinese coffee chain failed to file its annual report.

The company said in a regulatory filing it has not been able to file the report due to the delays caused by the COVID-19 pandemic and as it awaits for the result of an internal investigation on an executive fabricating annual sales. (https://bit.ly/3fQOMsZ)

The U.S. stock exchange had in May issued a notice to Luckin, citing concerns raised by the fabricated transactions and the company’s failure to disclose material information.

(Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur)