Lululemon Faces another Derivative Shareholder Suit
The Lulunatics were hit with a second proposed shareholder class action suit filed in S. NY district court by Denish Bhavsar, naming CEO Calvin McDonald, CFO Meghan Frank, and several directors as defendants. The claim repeats many of the allegations from an earlier suit, namely that LULU made misleading statements about high inventory levels of its Breezethrough yoga wear, resulting in the stock dropping. ... Log in to view full article.
