The Xiamen city based Coffee company, Luckin Coffee, reportedly overstated their sales numbers from April-September 2019 by ~$300 million (or 2.2 billion yuan); which represented the bilk of their reported sales number. The company is conducting an internal investigation into the matter. The company suspended their Chief Operation Officer Jian Liu and is conducting an internal investigation into the matter.
Even though most of their revenue comes from China, the company is listed on NASDAQ. On April 7 Nasdaq suspended trading of the stock! An unlucky year for Luckin!