UA Oct 2024 7.500 call
- WWD
Under Armour Agrees to Pay $434 Million to Settle Class Action Lawsuit
The case turned on the company’s accounting and disclosures tied to its sales in 2015 and 2016.
- Reuters
Under Armour to pay $434 million to settle lawsuit over sales disclosures
The shareholder lawsuit accused the apparel maker and CEO Kevin Plank of intentionally misleading them about the company's financial health. In 2021, the Baltimore-based company had agreed to pay $9 million to settle Securities and Exchange Commission (SEC) charges that it misled investors about its revenue growth. Mark Solomon, lead counsel for the shareholders and a partner at litigation firm Robbins Geller Rudman & Dowd, called the proposed settlement an "important win" that underscored the key role of pension funds in holding companies accountable.
- PR Newswire
UNDER ARMOUR ANNOUNCES AGREEMENT TO SETTLE CLASS ACTION LITIGATION
Under Armour, Inc. (NYSE: UA, UAA) today announced that it has entered into an agreement in principle to resolve the previously disclosed securities class action litigation pending in the United States District Court for the District of Maryland (In re Under Armour Securities Litigation). This lawsuit was originally filed in 2017.
