Asked on an episode of The Businessweek Show airing tonight if he could remember the last time he was dishonest, he said he could: “And it actually makes me quite sick. I was being interviewed by the SEC, and I think I had to say what wasn’t true,” he said. “How can I say this? If I would’ve said what was true, then I would’ve spent three or four years in court.”
Wilson, who gave up his role as chairman of the yoga-wear retailer about a decade ago, said he “wasn’t willing to be away from” his young kids. That took “precedence over telling the truth.” He added, “I probably would’ve lost a billion dollars in stock value.”
During the filming, he declined to elaborate.
The interview was for an episode about moonshots, including his $100 million attempt to cure his rare disease. After it was filmed, Bloomberg Businessweek again asked Wilson for additional information. In response, his representatives said they were “retracting and recanting his answer due to falsity.” They would not specify what was false.
Source: Lululemon Founder Chip Wilson Said He Was Dishonest With SEC, Then Backtracked – Bloomberg
