SEC: Luckin Coffee agreed to pay $180 million to reach a settlement

According to Bloomberg’s early morning of December 17, the SEC of the Securities and Exchange Commission said on Wednesday local time that Luckin Coffee agreed to pay a fine of $180 million to reach a settlement in response to the fraud allegations.

Luckin Coffee neither admitted nor denied the allegations of regulators in the settlement.

Previously, the SEC accused Luckin Coffee of defrauding investors by seriously falsely reporting the company’s revenue, expenditure and net operating losses to falsely show that it has achieved rapid growth and increased profits and met the company’s profit expectations.