lululemon(US:LULU) Prnewswire·2024-09-03 15:30Core Viewpoint - A securities class action lawsuit has been filed against lululemon athletica inc. for allegedly making false or misleading statements regarding its business performance and operations during the Class Period from December 7, 2023, to July 24, 2024 [1][2]. Group 1: Allegations Against lululemon - The lawsuit claims that lululemon faced significant issues with inventory allocation and color palette execution [2]. - The launch of the Breezethrough product was reported to have underperformed, contributing to stagnating sales in the Americas region [2]. - Positive statements made by the company regarding its business and prospects were deemed materially misleading and lacked a reasonable basis due to the aforementioned issues [2]. Group 2: Lead Plaintiff Process - Investors in lululemon have until October 7, 2024, to apply to be appointed as lead plaintiff representatives in the class action [3]. - The lead plaintiff will represent the interests of all class members and select legal counsel for the case [3]. - Participation as a lead plaintiff does not affect the ability of investors to share in any potential recovery from the lawsuit [3]. Group 3: Legal Representation - Kessler Topaz Meltzer & Check, LLP is encouraging lululemon investors who have experienced significant losses to reach out for more information regarding the lawsuit [4]. - The firm has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [5].