Page 1

lululemon athletica inc Sued For Fraud Over Sheer Yoga Pants; CEO Exit-Reuters

Tuesday, 2 Jul 2013 05:36pm EDT

Reuters reported that lululemon athletica inc has been hit with a U.S. lawsuit accusing it of defrauding shareholders by hiding defects in yoga pants whose sheerness led to a costly recall, and concealing talks that led to the sudden departure of its Chief Executive. The lawsuit in the U.S. district court in Manhattan was filed by a shareholder on Tuesday, three weeks after Lululemon Chief Executive Christine Day announced her surprise exit after 5-1/2 years at the helm, calling it a personal decision. It is separate from a May lawsuit filed in Delaware Chancery Court that accused Lululemon directors of boosting possible executive bonuses just before the recall. Day stepped down three months after the Company recalled women's yoga pants containing its Luon fabric after determining the pants were too sheer. The Company said that recalling the stretchy, snug-fitting black pants could reduce profit this year by up to $40 million. It returned the pants to store shelves last month. Tuesday's lawsuit was filed by Houssam Alkhoury, a Natick, Massachusetts, resident who had bought 7,500 Lululemon shares.

Jiangchen International Holdings Ltd Announces Appointment Of Chief Executive Officer

Tuesday, 2 Jul 2013 10:52am EDT

Jiangchen International Holdings Ltd announced that with effect from July 2, 2013, Mr. Cai Shuiyong (Mr. Cai), currently the Chief Executive Officer(CEO) and executive Director of the Company, will relinquish his role as CEO. Mr. Cai will enter into a new service contract with the Company with effect from July 2, 2013. The Board further announced that Mr. Guo Xinlin (Mr. Guo) has been appointed as CEO of the Company with effect from July 2, 2013.

Mainland Headwear Holdings Ltd Comments On H1 2013 Profit Guidance

Tuesday, 2 Jul 2013 06:05am EDT

Mainland Headwear Holdings Ltd announced that, the Group expects to record a decline in performance for the unaudited interim results of the Group for first half of 2013 as compared to a profit for first half of 2012. The decline in performance is primarily attributable to the increasing production cost of manufacturing businesses in the PRC which is related to the rapid rise in labour cost and appreciation of renminbi yuan in the first half of 2013.

Superior Uniform Group Inc Announces Acquisition of HPI Direct, Inc

Monday, 1 Jul 2013 02:00pm EDT

Superior Uniform Group Inc announced the acquisition of substantially all of the assets of HPI Direct, Inc. (HPI or HPI Direct) of Alpharetta, Ga., effective. Since 1993, HPI Direct has built a stellar reputation for quality and responsiveness as a privately owned company specializing in the design, manufacture and distribution of uniforms to domestic retailers, foodservice chains, transportation and other service industries throughout the United States. HPI's image apparel is worn by some of the prestigious brands in the markets that they serve. The transaction is an asset purchase including the assumption of certain liabilities. The purchase price for the transaction consists of approximately $32.5 million in cash, subject to adjustment, the issuance of approximately $2.3 million in shares of Superior Uniform Group's common stock, the potential future payment of up to $7.2 million in additional contingent consideration through 2017, and the assumption of certain liabilities of HPI Direct. The transaction also includes the acquisition of the corporate offices and warehouse distribution facility from an entity related to HPI Direct. Concurrent with the closing of the acquisition, Superior renewed its $15 million revolver agreement and entered into a new term loan for $30 million. Both credit facilities carry five year terms and variable interest rate of LIBOR plus 0.95%.

Markets

  • Sectors
  • U.S.
  • Europe
  • Asia

Sector Summary

Energy -0.24%
Basic Materials -0.29%
Industrials +0.12%
Cyclical Goods & Services +0.23%
Non-Cyclical Goods & Services -0.24%
Financials -0.08%
Healthcare -0.05%
Technology +0.02%
Telecoms -0.22%
Utilities -0.25%

Market News

» More News

Analyst Research

Report Title Price
ICPW.OB - Event Transcript of Ironclad Performance Wear conference call, Aug. 11, 2010 / 4:30pm ET
Provider: Thomson Reuters StreetEvents
$39.00
Buy
EganaGoldpfeil (Holdings) Ltd. (0048) - Financial Analysis Review
Provider: GlobalData
$125.00
Buy
IT Holding SpA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
$20.00
Buy
Wright Investors Service Comprehensive Report for Lamarthe
Provider: Wright Reports
$75.00
Buy
Damas International Limited (DAMAS) - Financial Analysis Review
Provider: GlobalData
$125.00
Buy

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.