Under Armour, Inc.

Case Details

Class Period:
August 3, 2016 – November 1, 2019
Date Filed:
November 6, 2019
Case Number:
1:19cv03209
Jurisdiction:
Maryland District Court

Case Summary

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Under Armour shifted sales from quarter to quarter to appear healthier, including to keep pace with their long-running year-over-year 20% net revenue growth; (2) the Company had been under investigation by and cooperating with the U.S. Department of Justice and U.S. Securities and Exchange Commission since at least July 2017; and (3) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Action Details

View Complaint (pdf)

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