Reuters reports Nasdaq asked China's Luckin Coffee to delist from the U.S. exchange. FOX Business' Maria Bartiromo with more.
Nasdaq Inc has delivered a notice to China’s Luckin Coffee Inc informing it that it has to delist from the U.S. stock exchange, people familiar with the matter said on Tuesday.
LUCKIN COFFEE FIRES CEO, COO AFTER FRAUD INVESTIGATION
Luckin Coffee, which had a U.S. IPO in early 2019, announced last month that an internal investigation had shown its chief operating officer and other employees fabricated sales deals.
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The sources requested anonymity ahead of an official announcement. Luckin Coffee and Nasdaq did not immediately respond to requests for comment.