NEW YORK -- Chinese regulators have begun an investigation into Luckin Coffee, whose scandal involving fabricated sales figures is seen as risking the trustworthiness of other U.S.-listed companies from China.
Luckin confirmed the probe Monday via Weibo, China's Twitter equivalent, citing "market regulation authorities" -- an apparent reference to the State Administration for Market Regulation, which reportedly is involved at the request of the U.S. Securities and Exchange Commission. The SEC declined to comment.
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