Lululemon's stretched thin -- and this time, it isn't just their yoga pants that are experiencing 'sheer' panic. After a turbulent 12 months, where first CEO Christine Day resigned, then the company came under fire as it was revealed it used too cheap a fabric in its yoga pants, founder and former chairman and CEO Dennis "Chip" Wilson is ready to shake up Lululemon's board with a push for change. He's working with longtime advisors, and with a 27 percent stake, it's possible Wilson and an LBO shop could push to take Lululemon private relatively early in its public lifetime.

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