A $434M Price Tag: Under Armour Flips the Page On Legal Drama With Settlement
Portfolio Pulse from Lekha Gupta
Under Armour (NYSE:UA) has agreed to settle a securities class action lawsuit for $434 million, covering claims from shareholders between 2015 and 2019. The company will use cash on hand or its credit facility to pay the settlement, which will be reflected in its fiscal 2025 financials. Under Armour denies any wrongdoing but aims to avoid litigation costs and distractions.
June 24, 2024 | 10:26 am
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Under Armour has agreed to a $434 million settlement for a securities class action lawsuit, which will be reflected in its fiscal 2025 financials. The company denies any wrongdoing but aims to avoid litigation costs and distractions.
The settlement removes a significant legal overhang for Under Armour, potentially boosting investor confidence. The company's proactive approach to resolving the issue and its financial strategy to cover the settlement are positive signs.
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