Lawsuit filed for Investors who lost money with shares of Lululemon Athletica Inc. (NASDAQ: LULU)

An investor, who purchased shares of Lululemon Athletica Inc. (NASDAQ: LULU), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Lululemon Athletica Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Lululemon Athletica Inc. (NASDAQ: LULU) have certain options and for certain investors are short and strict deadlines running. Deadline: October 07, 2024. NASDAQ: LULU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based Lululemon Athletica Inc., together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men.

On March 21, 2024, Lululemon Athletica Inc announced its financial results for the fourth quarter and full year ended January 28, 2024, revealing the Company's growth was stagnating in the Americas region. Specifically, net revenue in the Americas grew 9% in the quarter and 12% in the fiscal year 2023, short of the 29% growth in the year-ago period and 12% growth in the previous quarter.

Then, on July 24, 2024, Bloomberg reported that several analysts posited Lululemon's inventory allocation seemed inconsistent, particularly as to the Breezethrough legging launched earlier that month, both in-store and online.

Then, on July 25, 2024, before the market opened, Bloomberg reported that a Lululemon spokesperson told the agency that the Company "made the decision to pause on sales [of the Breezethrough yoga wear] for now to make any adjustments necessary to deliver the best possible product experience."

Shares of Lululemon Athletica Inc. (NASDAQ: LULU) declined from $513.50 per share on December 26, 2023, to as low as $232.96 per share on August 07, 2024.

The plaintiff claims that between December 7, 2023 and July 24, 2024, the Defendants failed to disclose to investors that the Company was struggling with inventory allocation issues and color palette execution issues, that, as a result, the Company's Breezethrough product launch underperformed, that, as a result of the foregoing, the Company was experiencing stagnating sales in the Americas region, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Lululemon Athletica Inc. (NASDAQ: LULU) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.