The business press may never tire of reminding Lululemon Athletica Inc. about the company’s see-through yoga pants debacle two years ago, and about the management and quality control problems that may have contributed to the embarrassing product recalls. But for the securities class action plaintiffs bar, Lululemon is proving to be an elusive target.
Handing a win to defense lawyers at Weil, Gotshal & Manges and Paul, Weiss, Rifkind, Wharton & Garrison, the U.S. Court of Appeals for the Second Circuit on Friday upheld a lower court’s decision to throw out a proposed securities fraud class action stemming from the sheer yoga affair and other alleged company missteps.
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