The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Under Armour, Inc. (NYSE: UA) who purchased shares between April 21, 2016 and January 30, 2017. The action, which was filed in the USDC for the District of Maryland, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that Under Armour’s revenue and profit margins would not be able to withstand the heavy promotions, high inventory levels and ripple effects of numerous department store closures and the bankruptcy of one of its large retailers; Under Armour instead continued to promote itself as a growth company that would continue to develop and market game-changing products.
Shareholders have until April 10, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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