NEW YORK, April 18 (UPI) -- U.S. District Court Judge Katherine Forrest on Friday dismissed shareholder class action lawsuits against yoga pants-maker Lululemon Athletica.
Shareholders accused the athletic clothing company of fraud for allegedly concealing defects in the quality of yoga pants. Lululemon and some of its current and former executives and directors were accused of violating the Securities Exchange Act and state law due to "serious quality control problems."