UPDATE 1-Luckin Coffee to pay $180 mln penalty to settle accounting fraud charges -U.S. SEC - Reuters India

2:33pm PST - December 16th, 2020    starbucks - Reuters

Luckin Coffee Inc has agreed to pay a $180 million penalty to settle accounting fraud charges for "intentionally and materially" overstating its 2019 revenue and understating a net loss, U.S. regulators said on Wednesday.