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Under Armour, Inc. (UAA)

NYSE:UA; NYSE:UAA

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Under Armour, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Under Armour, Inc. (“Under Armour” or the “Company”) (NYSE:UA) (NYSE:UAA) of the April 11, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of Maryland on behalf of all those who purchased Under Armour securities between July 24, 2014 and January 30, 2017 (the “Class Period”).  The case, Stenger v. Under Armour, Inc. et al, No. 1:17-cv-00611 was filed on March 2, 2017, and has been assigned to Judge Richard D. Bennett.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that one of its largest wholesale retailers, The Sports Authority, was facing bankruptcy and, as a result of its high inventory levels at The Sports Authority, Under Armour was at risk of not meeting its revenue and profit margins.

Specifically, on January 30, 2017, the Company filed a Form 8-K with the Securities and Exchange Commission. Therein, the Company’s Chairman and Chief Executive Officer, Kevin Plank, stated that, in part, “numerous challenges and disruptions in North American retail tempered our fourth quarter results.” Furthermore, the Company announced that the Company’s Chief Financial Officer, Chip Malloy, would be leaving the Company.

On this news, Under Armour’s share price fell from $28.94 per share on January 30, 2017 to a closing price of $21.49 on January 31, 2017—a $7.45 or a 25.74% drop.

Take Action

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Under Armour’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Under Armour, Inc. (UAA)
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* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 03/28/2017

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