Lululemon Escapes Investor's Toxic Work Culture Claims
Law360 (April 2, 2020, 2:38 PM EDT) -- Delaware's Chancery Court on Thursday rejected an investor's claims that fitness apparel maker Lululemon Athletica Inc.'s directors breached their duty to the company by approving a $5 million severance package for a former CEO accused of "pervasive misconduct."
The Lululemon stockholder had said in a derivative suit that company directors improperly addressed allegations that former CEO Laurent Potdevin "engaged in a pattern and practice of harassment and sexual favoritism." (AP)
In his decision, Vice Chancellor Joseph R. Slights III found that stockholder David Shabbouei's complaint "falls well short" of standards required to keep alive claims that directors approved the deal to...
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