Luckin Coffee Shareholder Vote Is Challenged After Chairman Determines Outcome

A fight for control of Luckin Coffee Inc. is hamstringing the embattled company, which has yet to release the results of a controversial shareholder vote that took place over the weekend. Luckin on Sunday held an extraordinary general meeting in Beijing, during which its chairman and co-founder, Charles Lu, asked shareholders to vote out four of the company’s eight directors—including himself—and replace them with two individuals whom he nominated as independent directors. Some shareholders saw it as an attempt by Mr. Lu,…

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