Passage3(1)LuckinCoffeehasbecomeaphenomenoninChina—andwithWallStreetinvestors—duetostunninggrowth.Butitturnsoutsomeofitssalesmayhavebeenfake.(2)SharesofLuckinCoffee(LK)plunged80%inearlytradingThursdayafterthecompanydisclosedinaregulatoryfilingwiththeSecuritiesandExchangeCommissionthatitsboardhadformedacommitteetolookintoaccountingirregularities.(3)Luckinsaidinthefilingthatbeginninginthesecondquarterof2019,chiefoperatingofficerJianLiuandseveralofhisdirectreports“hadengagedincertainmisconduct,includingfabricatingcertaintransactions.”LuckinsaidLiuhassincebeensuspended.(4)Thecompanyaddedthatthefabricatedtransactionsamountedtoabout2.2billionyuan(approximately$310millionUS)fromthesecondquartertothefourthquarteroflastyear.(5)“Certaincostsandexpenseswerealsosubstantiallyinflatedbyfabricatedtransactionsduringthisperiod,”LuckinaddedintheSECfiling.(6)LuckinwentpublicontheNasdaqlastMay,whichiswhythecompanyneedstofileregularupdateswiththeSEC.(7)SharesofLuckinweredownsharplythisyear—evenbeforeThursday’saccountingbombshell—duetoconcernsthatCovid-19wereaffectingitssales.51.LuckinCoffeehasbecomeaphenomenoninChinabecauseof_____.