lululemon athletica inc. (NASDAQ: LULU) founder and biggest shareholder, Chip Wilson, posted two main questions before the management through a open letter to its shareholders. According to the company, three years back, its stock was double the value of Under Armour's. However, currently, it's worth less than half.

The second question was that shareholders were entitled to judge the performance of the company and the hold the board members responsible. He said that the shareholders deserved the right to vote on all the board members and would make a change. He said that he was denied permission to talk to the shareholders in the annual meeting.

Shares of the company traded 1.50 percent higher on Wednesday.