Under Armour Settles Securities Action
The company stamped a $434 million settlement Friday which will end the seven-year saga of shareholder fraud accusations pending final court approval and avoid a July 15 trial scheduled in U.S. District Court in Baltimore. The class action shareholder suit was the final hurdle stemming from claims Under Dog pushed out inventory to retailers and off-price channels to inflate its top line from Q3 2015 through the end of 2016 to maintain a streak of 20%-plus growth quarters. The company previously paid a civil penalty of $9.0 million to resolve SEC ... Log in to view full article.