Luckin Coffee probe on CEO finds no evidence of misconduct

  • 2/17/2021
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Feb 17 (Reuters) - Embattled Chinese coffee chain Luckin Coffee said on Wednesday its board had found no evidence of misconduct against Chief Executive Officer Jinyi Guo, after a month-long investigation. The company had last year settled an accounting fraud for “intentionally and materially” overstating its 2019 revenue and understating net loss. The investigation team included board members, outside counsels and forensic accounting experts. (Reporting by Nivedita Balu in Bengaluru)

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