Lululemon Faces Slew of Derivative Shareholder Suits
The Lulunatics were hit with four more proposed shareholder class action suits filed in S. NY district court naming CEO Calvin McDonald, CFO Meghan Frank, and several directors as defendants. The claims echo two earlier suits, alleging the defendants made misleading statements about high inventory levels of Breezethrough yoga wear, resulting in the stock dropping. After Bloomberg reported that Breezethrough inventory allocation was inconsistent, and ... Log in to view full article.
