| COMPANY |
lululemon athletica inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
24-cv-06033 |
| JUDGE |
The Hon. Andrew Lamar Carter Jr. |
| CLASS PERIOD |
December 7, 2023 through July 24, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
The Class Period begins on December 7, 2023 when the company announced its quarterly results and ensured investors that the company was effectively managing inventory allocation.
On July 24, 2024, Bloomberg reported that several analysts posited that lululemon’s inventory allocation seemed inconsistent, particularly as to the Breezethrough legging launched earlier that month, both in-store and online. On this news, lululemon’s stock price fell $9.31, or 3.3%, to close at $272.06 per share on July 24, 2024, on unusually heavy trading volume.
The complaint alleges that, 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) the company’s Breezethrough product launch underperformed; (3) as a result, lululemon was experiencing stagnating sales in the Americas region; and (4) 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.
Current Status of Case:
On October 23, 2024, the Court entered an Order appointing Lead Plaintiffs and Lead Counsel. On March 10, 2025, Lead Plaintiffs filed an Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.