Overview

A class action lawsuit has been filed against Lululemon Athletica Inc. (“Lululemon” or the “Company”) (NASDAQ: LULU) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Lululemon class action lawsuit is brought 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 seek appointment as lead plaintiff of the Lululemon class action lawsuit.

Lululemon is engaged in the design, distribution, and retail of technical athletic apparel, footwear, and accessories.

The Lululemon class action lawsuit alleges that, during the Class Period, Defendants failed to disclose to investors that: (1) the Company was struggling with inventory allocation issues and color palette execution issues; (2) as a result, the Company’s Breezethrough product launch underperformed; (3) as a result of the foregoing, the Company 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.

On March 21, 2024, after the market closed, Lululemon disclosed stagnating growth in the Americas region, and North America specifically.  On this news, the Company’s share price fell $75.65 or 15.80%, to close at $403.19 per share on March 22, 2024.

On July 24, 2024, at approximately 3:05 p.m. Eastern, Bloomberg analysts reported that Lululemon’s new Breezethrough leggings launch was “raising concern[s],” noting that the launch had suffered from “inconsistent” inventory allocation and pricing, with “certain locations carrying Breezethrough leggings while others didn’t carry the new line,” suggesting “ongoing allocation-related issues.”  On this news, the Company’s stock price fell $24.74, to close at $247.32 per share on July 25, 2024.

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If you purchased or otherwise acquired Lululemon securities between December 7, 2023, and July 24, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. The deadline to apply to the Court to serve as a lead plaintiff in the Lululemon class action lawsuit is October 7, 2024