June 19, 2020 / 11:54 AM / in 15 days

Luckin Coffee audit committee member resigns less than three months into job

(Reuters) - An independent director and member of Luckin Coffee Inc’s (LK.O) audit committee has resigned, the embattled coffee chain said on Friday, less than three months after his appointment.

Luckin, which announced Tianruo Pu’s appointment on March 27, said his resignation was due to personal reasons.

The Chinese company disclosed in April that its chief operating officer and other staff had fabricated as much as $310 million worth of sales last year, prompting inquiries from regulatory agencies in both the United States and China.

The company fired its chief executive and chief operating officers in May following an internal probe on the fabrication of the sales numbers.

Its shares fell marginally in premarket trading on Friday. The company has received a delisting notice from Nasdaq.

Reporting by Uday Sampath in Bengaluru; Editing by Saumyadeb Chakrabarty

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