A long-standing lawsuit between shareholders and Under Armour has come to a settlement. Under Armour has agreed to pay $435 million to resolve the accusations from shareholders. The shareholders alleged that Under Armour misled them about the company’s financial health. Claims that the popular sports company inflated its sales figures and failed to alert shareholders to the risks associated with over-ambitious expansion plans between the years 2015-2019 were the basis for the lawsuit. The company intends to pay the settlement with both cash on hand and credit.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.
