NEW YORK, Aug. 09, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Lululemon Athletica Inc. (“Lululemon” or the “Company”) (NASDAQ: LULU) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Lululemon securities between December 7, 2023 and July 24, 2024, both dates inclusive (the “Class Period”). Investors have until October 7, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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According to the complaint, during the class period, defendants failed to disclose to investors: (1) that the Company was struggling with inventory allocation issues and color palette execution issues; (2) that, as a result, the Company’s Breezethrough product launch underperformed; (3) that, as a result of the foregoing, the Company 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.
Plaintiff alleges that the Company’s stock suffered significant loss after defendants disclosed its financial results for the fourth quarter and full year ended January 28, 2024. Further, after reports regarding the Company’s inconsistent inventory allocation and the Company’s decision to “pause on sales [of the Breezethrough yoga wear] for now to make any adjustments necessary to deliver the best possible product experience,” the stock again declined.
If you purchased or otherwise acquired Lululemon shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
