Top Dog In Fight To Lead Luckin Suit Exits After Fraud Query

Law360 (June 2, 2020, 8:48 PM EDT) -- The investor set claiming to have sustained the most losses from alleged misconduct by Luckin Coffee has dropped out of a fiery competition for appointment as lead plaintiff in a stock-drop suit against the Chinese coffee chain.

Chesi Assets Limited Group did not say why it was withdrawing its bid to lead the suit on Monday, but the move comes less than a week after a New York federal judge ordered the group to turn over documents related to one of its directors' 2002 convictions for violating Malaysian securities laws.

By all indications, U.S. District Judge Lewis J. Liman was alerted...

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