NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Lululemon Athletica Inc (“Lululemon” or the “Company”) (NASDAQ: LULU). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Lululemon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 21, 2024, Lululemon issued a press release “announc[ing] it is implementing an updated and more integrated organizational structure, in conjunction with the departure of Sun Choe, Chief Product Officer, who has resigned and will leave the company later this month to pursue another opportunity.” Among other adjustments, Lululemon stated that it “does not intended to replace the role of Chief Product Officer”, instead splitting the role’s core responsibilities across the current leadership team in a new organizational structure.
On this news, Lululemon’s stock price fell $23.35 per share, or 7.23%, to close at $299.63 per share on May 22, 2024
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
