Updates for Getting Payment on the Under Armour $434 million Settlement
Hey guys, if you missed it, Under Armour settled $434 million with investors over misleading revenue growth and business prospects claims. And, I just found out that they’re accepting claims even though the deadline has passed.
Quick recap:In 2017, Under Armour was accused of misleading investors about its revenue growth and business prospects. The company had claimed it could continue delivering more than 20% revenue growth despite internal challenges like excess inventory and retailer issues, but later disclosed weaker-than-expected earnings and the resignation of its CFO.
After this news came out, the stock dropped 26%, and investors filed a lawsuit for their losses.
Now, the good news is that the company agreed to settle $434 million with them, and even though the deadline has passed recently, they’re accepting late claims.
So, if you invested in $UA or $UAA when all of this happened, you can still check the details and file your claim here.
Anyway, has anyone here invested in $UA or $UAA at that time? How much were your losses, if so?