Under Armour
Settlement of In re Under Armour Securities Litigation
No. RDB-17-388
The parties have reached a settlement of this action, pending in the United States District Court for the District of Maryland. The settlement provides for the payment of $434 million for the benefit of eligible Class Members. Plaintiffs alleged Defendants violated the federal securities laws by making materially false and misleading statements or omitting to state facts necessary to make statements made not misleading in public filings and other public statements during the Class Period regarding demand for Under Armour, Inc.’s (“Under Armour” or the “Company”) products, drivers of the Company’s growth, and the Company’s financial prospects. As a result, Under Armour’s stock price was allegedly artificially inflated, which resulted in damage to Class Members.
The Class consists of all persons and entities who purchased or otherwise acquired Class A and Class C common stock of Under Armour between September 16, 2015, and November 1, 2019, inclusive (the “Class Period”). Excluded from the Class are Defendants, present or former executive officers and directors of Under Armour and their immediate family members (as defined in 17 C.F.R. §229.404, Instructions (1)(a)(iii) and (1)(b)(ii)). Also excluded from the Class are the persons and entities who submitted valid requests for exclusion from the Class in connection with the mailing of the Notice of Pendency of Class Action.
The settlement was approved by the Court on November 7, 2024.
If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.
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