Under Armour Settles $434M Securities Class Action Lawsuit

Under Armour has agreed in principle to settle a securities class action lawsuit for $434 million, covering claims from shareholders between September 2015 and November 2019. The settlement, including governance changes, is not an admission of wrongdoing. The payment will be sourced from cash reserves and credit facilities, pending court approval. The lawsuit involved allegations of misleading disclosures and accounting practices, with Under Armour denying any fault. The settlement, subject to court approval, aims to resolve all claims against the company and its executives, providing financial compensation to affected stockholders and implementing governance reforms.