They're the see-through yoga pants that will not disappear. After the famously sheer pants saw Lululemon's chief product officer fired, CEO resign, and stock price plummet, they have now incited a lawsuit. A shareholder is accusing the company of fraud, claiming Lululemon deliberately hid the defects in the pants, and concealed "serious discussions" about then-CEO Christine Day's exit, thus causing shares to drop 17.5 % in June, Reuters reports.
Meanwhile, the company is in search of a new CEO. "Any ideas?" Lululemon wrote on its Facebook page. In a "fake" job advertisement on its site (which now appears to have been removed), it described the position thusly: "You report to no one, you are the CEO (duh). You are passionate about doing chief executive officer type stuff like making decisions, having a vision and being the head boss person." Though the post was a joke, it nevertheless garnered at least 160 responses, the Boston Globe reports. (Read more Lululemon Athletica stories.)