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Article Date: September 2020
Word Count: 215

Under Armour Faces Another Derivative Shareholder Suit


Nominally filed on behalf of the company against Under Dog’s past and present executives and board members, a new suit filed in Baltimore federal court accuses them of fraudulently pulling forward sales to maintain a streak of 20% growth quarters. This filing rehashes the same arguments that we’ve seen in the spate of recent suits since Under Armour revealed that the SEC was initiating an enforcement action against it, after investigating its quarterly reporting in late 2015 and 2016. Under Armour management used strategies like channel stuffing and reckless discounting to maintain the appearance of growing sales, it alleges, which ... Log in to view full article.

 


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