Lululemon Athletica (LULU) Inventory and Product Issues Case

S.D. New York

Court

1:24-cv-06033

Case number

12/07/2023

Class period Start

07/24/2024

Class period End

10/07/2024

Lead Plaintiff motion deadline

$LULU stockholder filed a claim against Lululemon for concealing inventory and product issues, leading to poor performance and stagnant sales.
After the financial results on March 21, 2024, $LULU fell by 15%.
Lululemon investors can join this case to be notified about potential recovery.
Case Details:

On March 21, 2024, Lululemon revealed its growth was slowing in the Americas, with quarterly revenue up only 9% and yearly growth at 12%, both down from previous periods.

On this news, $LULU fell 15.8% on March 22, 2024.

On July 24, 2024, Bloomberg reported that analysts found Lululemon's inventory for the new Breezethrough leggings inconsistent.

After that, $LULU dropped 3.3% on the same day.

On July 25, 2024, Bloomberg reported that Lululemon decided to pause sales of the Breezethrough yoga wear to improve the product experience. On this news, $LULU fell 9.09%.

Based on these events, a $LULU stockholder filed a claim against Lululemon and its leaders, accusing them of the following:
Lululemon failed to disclose that it was facing issues with inventory and product execution. 
This led to poor performance of the Breezethrough product and stagnating sales in the Americas. 
Considering all the representations, investors suspect Lululemon failed to disclose inventory and product issues, resulting in poor performance and stagnant sales.

Case Status

Lead Plaintiff Appointed

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

07/25/2024

Filing date

08/08/2024

Lead Plaintiff Deadline

10/07/2024

Judge

Hon. Andrew L. Carter, Jr

Lululemon Athletica (LULU) Inventory and Product Issues Case

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