INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Under Armour, Inc.

Date : 11/07/2019 @ 1:00AM
Source : Business Wire
Stock : Under Armour Inc (UAA)
Quote : 14.42  -0.4 (-2.70%) @ 1:00AM
After Hours
Last Trade
Last $ 14.59 ▲ 0.17 (1.18%)

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Under Armour, Inc.

Under Armour (NYSE:UAA)
Historical Stock Chart

6 Months : From Aug 2019 to Feb 2020

Click Here for more Under Armour Charts.

The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Maryland on behalf of those who acquired Under Armour, Inc. (“Under Armour” or the “Company”) (NYSE: UA, UAA) securities during the period from August 3, 2016 through November 1, 2019 (the “Class Period”). Investors have until January 6, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The lawsuit alleges that Under Armour failed to disclose that: (i) the Company shifted sales from quarter to quarter to appear healthier, including to keep pace with their long-running year-over-year 20% net revenue growth; and (ii) the Company had been under investigation by and cooperating with the U.S. Department of Justice and U.S. Securities and Exchange Commission since at least July 2017.

On November 3, 2019, The Wall Street Journal reported that the U.S. Department of Justice and Securities and Exchange Commission were investigating Under Armour’s accounting of revenue and related disclosures. The investigations concern whether the Company shifted sales from quarter to quarter to appear healthier. Though Under Armour had reported at least 20% year-over-year revenue growth for 26 straight quarters, the Company missed its sales targets in the final quarter of 2016 and has been struggling with weak sales and restructuring ever since.

On this news, the price of Under Armour Class A stock (UAA) fell $4.00, or 18.9%, to close at $17.14 on November 4, 2019. The price of Under Armour Class C stock (UA) fell $3.47, or 18.4%, to close at $15.44 on November 4, 2019.

If you are a shareholder of Under Armour, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kirby McInerney LLP Thomas W. Elrod, Esq. (212) 371-6600 investigations@kmllp.com www.kmllp.com

Latest UAA Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.