Welcome to the Luckin Coffee Inc. Securities Litigation Website.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Settlement Notice”). Because this website provides just a summary, you should review the Settlement Notice for additional details.
The action, captioned In re Luckin Coffee, Inc. Securities Litigation, Case No. 1:20-CV-01293-JPC-JLC (S.D.N.Y.) (“Action”), was brought in the United States District Court for the Southern District of New York (“Court”). The Action alleged that Defendants violated the federal securities laws by making false and misleading statements and omissions regarding, among other things, Luckin’s operating expenses and financial reports. Luckin has denied and continues to deny the claims and allegations asserted against it and the other Defendants in the Action.
The Court-appointed Class Representatives, Sjunde AP-Fonden and Louisiana Sheriffs’ Pension & Relief Fund, on behalf of themselves and the Class, have settled the Action with Luckin Coffee, Inc. ("Luckin") for $175,000,000 in cash ("Settlement"). The Settlement resolves all claims in the Action.
On July 22, 2022, the Court held a hearing to consider final approval of the Settlement and related matters. At the hearing, the Court approved the Settlement and Plan of Allocation and Class Counsel’s motion for attorneys’ fees and expenses. Following the hearing, the Court entered a final Judgment approving the Settlement and orders approving the Plan of Allocation and awarding attorney's fees and litigation expenses.
If you purchased or otherwise acquired Luckin American Depository Shares (“ADSs”) during the period from May 17, 2019 through July 15, 2020, inclusive, your legal rights may be affected by this Action and the Settlement.
If you are a member of the Class, your legal rights will be affected whether or not you act. Please read the Settlement Notice carefully to fully understand your rights and options.
The Class consists of:
All persons and entities (and their beneficiaries) that purchased or otherwise acquired Luckin 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 25 of the Settlement Notice) or any persons or entities that validly requested exclusion from the Class following the procedures set forth in the Class Notice (see Appendix 1 of the Stipulation).
If you are a Class Member, in order to be potentially eligible to receive a payment under the Settlement, you must submit a Claim Form. The Court-ordered deadline for submission of Claim Forms was March 15, 2022. However, if you believe you are a Class Member and you wish to be eligible for a payment and you have not yet submitted a Claim Form, please submit your Claim Form and supporting documentation as soon as possible. While we cannot guarantee that the Court will accept late claims, if your claim is otherwise eligible, Lead Counsel will ask the Court to accept it. Payments to eligible claimants will be made only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.