But instead of a sprawling café empire, the three-year-old company served up massive fraud in its accounting books, revealing in April that it had exaggerated sales between the second to fourth quarters of 2019 by $310 million. Luckin fired CEO Jenny Zhiya Qian and COO Jian Liu last week, while at least one of the underwriters in Luckin's public listing was reportedly been pushed out of the starry WeDoctor IPO in part over the scandal. Luckin said Tuesday that the Nasdaq plans to delist Luckin over "public interest concerns as raised by the fabricated transactions." Luckin plans to request a hearing to appeal the decision, though shares will continue trading on the Nasdaq for the time being. The selloff bodes ill for Luckin's lenders.