NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of lululemon athletica inc. (NASDAQ: LULU) between December 7, 2023 and July 24, 2024, both dates inclusive (the “Class Period”). Lululemon is a designer, distributor, and retailer of technical athletic apparel, footwear, and accessories.
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The Allegations: Rosen Law Firm is Investigating the Allegations that lululemon athletica inc. (NASDAQ: LULU) Misled Investors Regarding its Business Operations.
According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) lululemon was struggling with inventory allocation issues and color palette execution issues; (2) that, as a result, lululemon’s Breezethrough product launch underperformed; (3) that, as a result of the foregoing, lululemon was experiencing stagnating sales in the Americas region; and (4) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against lululemon. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 7, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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