Lululemon received some bad news Wednesday as their shares fell more than 7%. The slide resulted from a report that clothing in their VitaSea line didn’t actually contain seaweed as claimed, and therefore didn’t purvey the health benefits that it touted.

The value of the shares had been climbing steadily since the IPO in July until the announcement yesterday caused them to fall $3.30 to $40.20 (U.S.). Lululemon founder Dennis Wilson did not deny the report saying that the company had not tested the material, trusting their supplier’s claim that the material contained seaweed.

Read the full article at the Globe and Mail

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