(Yicai Global) May 12 -- Los Angeles-based Capital Research Global Investorshas sold all of its shares in Luckin Coffee, a Chinese Starbucks rival that admitted some of its employees faking sales figures earlier this year, The Paper reported today, citing the investment management firm's regulatory filing.

With its more than 71.5 million shares, Capital Research Global Investorsused to hold a 9.2 percent stake in the Xiamen-based coffee chain, according to its statement on Feb. 10.

Luckin Coffee's equity [NASDAQ: LK] has been suspended at USD4.39 since April 6.

Editor: Emmi Laine