Lululemon Asks Judge To Toss Investor's Doc Request

Law360, Wilmington (February 5, 2014, 8:36 PM ET) -- Yoga apparel maker Lululemon Athletica Inc. urged a Delaware Chancery judge Wednesday to dismiss an investor's books and records suit, saying the shareholder had no viable reason to access internal corporate documents.

At a hearing in Wilmington before Vice Chancellor Donald F. Parsons Jr., Lululemon's counsel said the shareholding pension fund lacked a credible basis for seeking information about the board's amendment of an executive bonus plan and the sale of stock held by its chairman.

The suit must be dismissed, attorney John L. Reed argued,...
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