Welcome to the Luckin Coffee Inc. Securities Litigation Website.

The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of Class Action (the “Notice”). Since this website is just a summary, you should review the Notice for additional details.

The purpose of this website is to inform potential Class Members: (1) of a class action lawsuit that is now pending in the United States District Court for the Southern District of New York (the “Court”) under the caption In re: Luckin Coffee Inc. Securities Litigation, No. 1:20-cv-01293-JPC-JLC” (the “Action”) against Luckin Coffee Inc. (In Provisional Liquidation) (“Luckin”) and other Defendants, including certain of Luckin’s executives and directors and the underwriters of its Initial Public Offering in May 2019 (“IPO”) and Secondary Public Offering in January 2020 (“SPO”) and (2) that the Court has provisionally certified the Action to proceed as a class action on behalf of the Class defined below for purposes of reaching a settlement of the Action with Luckin. There is no judgment, settlement, or monetary recovery at this time and you are not being asked to submit a claim.

The Class consists of:

All persons and entities (and their beneficiaries) that purchased or otherwise acquired Luckin American Depositary Shares (“ADSs”) between May 17, 2019 through July 15, 2020, inclusive, except for certain persons and entities who are excluded from the Class by definition (see paragraph 2 of the Notice) or any persons or entities that request exclusion from the Class following the procedures set forth in the Notice (see paragraphs 24-27 of the Notice).

The Class has been provisionally certified for the purpose of effectuating a potential settlement with Luckin in this Action and pursuant to the relevant legislation under Cayman Islands law, including but not limited to presenting a Scheme of Arrangement under section 86 of the Companies Act (2021 Revision) (referred to herein as a “Settlement”).

If you are a Class Member, your rights, including your rights with respect to participation and voting in a Scheme of Arrangement, may be affected by the Action. The Notice advises you of your options regarding the class action and the Scheme of Arrangement.

Please Note: This Action is currently ongoing. No court has made a ruling on the merits of the allegations asserted against Luckin or the other Defendants in the Action. There is no judgment, settlement, or monetary recovery at this time, and there this no guarantee there will be any recovery.


The operative complaint in the Action, the Consolidated Class Action Complaint (the “Complaint”), was filed on September 24, 2020. The Complaint alleges that Luckin and the other Defendants violated Section 10(b) of the Securities Exchange Act of 1934 and Section 11 of the Securities Act of 1933. Among other things, the Complaint alleges that Defendants included material misstatements and omissions in the offering documents for the IPO and the SPO regarding, among other things: (i) Luckin’s compliance with laws and regulations, GAAP, and internal controls over financial reporting; (ii) the reasons for Luckin’s increased earnings and growth leading up to the IPO and between the IPO and the SPO; (iii) Defendant’s reported revenues and expenses; and (iv) Luckin’s related-party transactions. The Action also alleges that the offering materials for the SPO omitted material facts concerning the margin loan facility some of the underwriters for the SPO entered into with Charles Zhengyao Lu, Luckin’s co-founder and then Chairman of Luckin’s Board of Directors, and Jenny Zhiya Qian, Luckin’s co-founder and then member of Luckin’s Board of Directors.

The Complaint further alleges that between the May 17, 2019 IPO and the January 10, 2020 SPO, Luckin and certain other Defendants made material misstatements and omissions regarding, among other things, Luckin’s operating expenses and financial reports, and, following the SPO, falsely denied allegations contained in a report published by Muddy Waters Research on January 31, 2020.

On November 23, 2020, Luckin moved to dismiss certain portions of the Complaint and the Underwriter Defendants moved to dismiss the Complaint. On January 22, 2021, Lead Plaintiffs filed their opposition to Luckin’s and the Underwriter Defendants’ motions. On February 4, 2021, Defendant Thomas P. Meier filed a motion to dismiss the Complaint.

On March 2, 2021, Lead Plaintiffs and Defendant Luckin filed a stipulation and proposed order provisionally certifying the Class for purposes of negotiating and implementing a settlement. On March 5, 2021, the Court issued an Order granting provisional class certification of the Class for settlement purposes, certifying the Class as defined above, appointing Lead Plaintiffs Sjunde AP-Fonden and Louisiana Sheriffs’ Pension & Relief Fund as Class Representatives, and appointing Class Counsel.

Important Dates and Deadlines:
September 17, 2021
Exclusion Deadline

To exclude yourself from Class, you must submit a written request for exclusion so that it is received no later than September 17, 2021, in accordance with the instructions in the Notice (see paragraphs 24-25 of the Notice).