Shares of Lululemon Athletica fell as much as 4.5% in late-morning New York trading after Texas Attorney General Ken Paxton launched an investigation into whether the company, known for its leggings, misled consumers about potential "forever chemicals" in its apparel.

Paxton's probe of Lululemon's athletic apparel centers around leggings that may contain PFAS, or "forever chemicals," and whether the company misled consumers about the safety, quality, and health impacts of its products.

The attorney general's office will also review the company's restricted substances list, testing procedures, and supply chain practices to determine whether its products actually meet the stated safety standards.

Paxton stated, "I will not allow any corporation to sell harmful, toxic materials to consumers at a premium price under the guise of wellness and sustainability. If Lululemon has violated Texas law, it will be held accountable."

Supply chain analysis platform Sayari provides the latest shipment data on Lululemon: 

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Paxton has been widening his investigations tied to the "Make America Healthy Again" movement, which is linked to HHS Secretary Robert F. Kennedy Jr. His recent actions include probing WK Kellogg over artificial food colorings in Froot Loops and pressuring food companies to remove synthetic dyes from cereal and other products. He has also targeted toothpaste makers over fluoride.