June 17, 2013 (Shareholders Foundation) - 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 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 Align Technology, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Lululemon Athletica inc. reported that its Total Revenue rose from $452.90 million for the 52 weeks period that ended on Jan. 31, 2010 to over $1.37 billion for the 53 weeks period that ended on Feb. 3, 2013 and that its respective Net Income rose from $58.28 million to $270.56 million.

Shares of Lululemon Athletica inc. grew from $45.26 per share in late 2011 to $82.25 on June 4, 2013.

Then on June 10, 2013, Lululemon Athletica inc. announced its first quarter fiscal 2013 results. Lululemon Athletica inc. also announced that Christine Day will step down as the Company's Chief Executive Officer when a successor is named.

Shares of Lululemon Athletica inc. declined from $82.28 per share on June 10, 2013 to as low as $64 per share on June 12, 2013.

On June 13, 2013, NASDAQ:LULU shares closed at $66.57 per share.