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Lululemon faces class action lawsuit over alleged earnings guidance distortion and non-disclosure

Sourcing Journal · ·by G4L

LULU
LULU Lululemon Athletica Inc
$112.53 +1.57%
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  1. 1Carol Coronitch filed a securities class action lawsuit against Lululemon and CFO Meghan Frank.
  2. 2The March forecast of 2-4% annual revenue growth for Lululemon failed to properly reflect actual weakening demand.
  3. 3Lululemon's annual revenue growth forecast was lowered to 5-7% through September, increasing earnings uncertainty.

So what's the key point?

Lululemon is facing a lawsuit for allegedly failing to disclose that its sales were expected to decrease. This growing uncertainty regarding earnings could affect investors.

Source Sourcing Journal · View original ↗

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