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Nasdaq Moves to Delist China’s Luckin Coffee

Nasdaq Moves to Delist China’s Luckin Coffee

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The Nasdaq Stock Market has determined that Luckin Coffee Inc. should be delisted, after the Chinese coffee chain disclosed last month that as much as $310 million of its sales last year were fabricated by some employees. Luckin, an upstart rival to Starbucks Corp. in China, said in a regulatory filing Tuesday that it received…