Chinanews Client, December 17th. On December 16, US local time, the US Securities and Exchange Commission announced that Ruixing Coffee had agreed to pay a fine of US$180 million to resolve allegations of "falsely exaggerating company revenue".
On December 17, Beijing time, Luckin Coffee issued a statement stating that Luckin Coffee and the U.S. Securities and Exchange Commission (SEC) have reached a settlement on the alleged financial fraud by some former employees.
Luckin Coffee will continue to cooperate with supervision and regard compliance as its top priority.