NEW YORK, July 2, 2020 /PRNewswire/ -- Luckin Coffee Inc.("Luckin" or "the company"), the massive China-based coffee company with over 4,000 stores raised $651 million in its 2019 Nasdaq IPO before delisting and leaving investors, many of whom are in the U.S., with massive losses and a limited ability to recoup their investment.
Seiden Law Group LLP, a boutique law firm in Manhattan with an office in China, has vast experience in shareholder rights matters, global asset recovery and recovering money from China-based formerly listed companies on behalf of shareholders. The firm does not follow the traditional class action lawsuit model, but rather employs novel and creative legal and asset recovery techniques in China, off-shore and in the US. Seiden Law Group has recovered millions of dollars for US shareholders of Chinese companies that were delisted from US exchanges. The firm's successes have included companies such as, Shengtai Pharmaceuticals, Inc. (SGTI), Oriental Dragon Corporation, Link Motion, Inc. (LKM) and Advanced Battery Technologies, Inc. (ABAT).
Luckin was recently the subject of a report from short-selling firm Muddy Waters Research that claimed Luckin had falsified financial and operational figures. Luckin subsequently fired several key executives after conducting an internal investigation and determining that sales numbers had been fraudulently inflated. The stock price plummeted by 80%.
SOURCE Seiden Law Group LLP