NEW ORLEANS, Sept. 25, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 7, 2024 to file lead plaintiff applications in a securities class action lawsuit against Lululemon Athletica Inc. (the “Company”) (NasdaqGS: LULU), if they purchased the Company’s securities between December 7, 2023 and July 24, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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Lululemon investors should visit us at https://claimsfiler.com/cases/nasdaq-lulu-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Lululemon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (1) the Company was struggling with inventory allocation and color palette execution issues; (2) as a result, the Company’s Breezethrough product launch underperformed and the Company was experiencing stagnating sales in the Americas region; and (3) as a result of the foregoing, the Company’s positive statements about the its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The case is Patel v. Lululemon Athletica Inc., et al., No. 24-cv-06033.
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