Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) announced that its Board of Directors has created a special committee composed of independent directors to evaluate strategic alternatives, including a possible transaction, while continuing execution of its standalone strategic plan. Following the announcement, the company’s shares surged 30% in after‑hours trading on Monday. The firm engaged Solomon Partners as its financial advisor and Willkie Farr & Gallagher LLP as its legal advisor to support the strategic review process. Lulu’s Fashion Lounge emphasized that there is no assurance the review will result in any strategic transaction and that the board and the special committee will not provide further updates unless a specific course of action is approved and further disclosure is deemed appropriate. The article notes that it was generated with AI assistance and reviewed by an editor.