A US investor has launched a class action lawsuit alleging Lululemon Athletica failed to disclose that quality defects in its luon yoga pants, which were later recalled for being too sheer, were the result of poor cost cutting.
Plaintiff Houssam Alkhoury accused the company of making misleading statements and omissions that caused it’s stock price to become artificially inflated (Read article here: Lululemon Sued In Revealing Yoga Pants Snafu).
The lawsuit, which was filed in a New York district court, is on behalf of all buyers of lululemon shares between March 21 and June 10.
Dear readers, lets all absorb this together. Here is a copy of the filing “United States District Court“