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Under Armour Settles Accounting Practices Suit for $434 Million

June 24, 2024

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Under Armour will pay $434 million to members of a class action lawsuit who bought the company’s stock between Sept. 16, 2015 and Nov. 1, 2019. The lawsuit, filed in 2017, alleged that Founder and then-CEO Kevin Plank knowingly or recklessly misrepresented facts regarding consumer demand for Under Armour’s products as well as the company’s financial and operating results, according to the Wall Street Journal.

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