NEW YORK, Aug. 7, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds purchasers of lululemon athletica inc. ("lululemon" or the "Company") (Nasdaq:LULU) stock during the period between March 21, 2013 and June 10, 2013, inclusive, of the important September 3, 2013 lead plaintiff deadline in the class action.
To join the lululemon class action, visit the firm's website at http://www.rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
According to the suit, lululemon materially misstated and/or failed to disclose that (i) product defects in the Luon yoga pants shipped on March 1, 2013 was due in part from the Company's attempts to increase profit margins by reducing costs to the detriment of product quality and brand reputation; (ii) the Company was forced to sell its products at a discount in order to obtain sales and preserve market share; and (iii) there was meaningful discussions concerning the potential replacement of the Company's CEO, Christine McCormick Day. When these adverse facts were disclosed, the price of the Company's stock dropped damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 3, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.