An investigation on behalf of investors of Lululemon Athletica inc. (NASDAQ:LULU) shares over potential securities laws violations by Lululemon Athletica inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Lululemon Athletica inc. (NASDAQ:LULU) concerning whether a series of statements by Lululemon Athletica inc. (NASDAQ:LULU regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Canadian based lululemon athletica inc. is a designer, distributor and retailer of athletic apparel. Lululemon Athletica inc. reported that its Total Revenue rose from over $2.06 billion for the 52 weeks period that ended on January 31, 2016 to over $2.34 billion for the 52 weeks period that ended on Janaury 29, 2017 and that its Net Income for those respective time periods increased from $266.05 million to $303.38 million.

On February 5, 2018, Lululemon Athletica inc. announced Laurent Potdevin had resigned as CEO effective immediately, stating he fell short of the Company's standards of conduct. Despite the misconduct, Lululemon agreed to pay Potdevin $3.35 million now and $1.65 million over a period of 18 months in monthly installments.