Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
LULU.US
id: 1300
Lululemon Athletica (LULU) Inventory and Product Issues Case
S.D. New York
Court1:24-cv-06033
Case number07 Dec 2023
Class period Start24 Jul 2024
Class period End07 Oct 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 Submission
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
25 July 2024
Filing date
08 August 2024
Lead Plaintiff Deadline
07 October 2024
Judge
Hon. Andrew L. Carter, Jr