Banks including Credit Suisse Group AG have won court orders to liquidate tens of millions of dollars in Luckin Coffee Inc.stock owned by embattled Chairman Charles Lu, a development that could weaken his control over the company as a crucial shareholder vote looms.
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WSJ News Exclusive | Banks Win Right to Liquidate Millions in Luckin Coffee Stock Owned by ChairmanBanks including Credit Suisse have won court orders to liquidate tens of millions of dollars in Luckin Coffee stock owned by Chairman Charles Lu, a development that could weaken his control over the company as a crucial shareholder vote looms.
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Luckin Coffee to Hold Special Meeting to Oust Chairman, DirectorsLuckin Coffee said it would hold an extraordinary general meeting July 5 to vote out several directors, including Chairman Charles Lu, as the company deals with the aftermath of its admission that it faked sales figures.
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Wirecard CEO Resigns After Banks Say Missing $2 Billion Doesn’t ExistThe chief executive of fintech giant Wirecard resigned after two banks in the Philippines meant to be holding over $2 billion on behalf of the company said they don’t have the cash and never did.
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Chase pays low rates on CDs, but it offers more term options than many other banks - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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WSJ News Exclusive | Banks Win Right to Liquidate Millions in Luckin Coffee Stock Owned by ChairmanBanks including Credit Suisse have won court orders to liquidate tens of millions of dollars in Luckin Coffee stock owned by Chairman Charles Lu, a development that could weaken his control over the company as a crucial shareholder vote looms.
Read more »