WELCOME TO THE UNDER ARMOUR SECURITIES LITIGATION WEBSITE

This website has been established to provide general information related to the proposed Settlement of the consolidated securities matter captioned In re Under Armour Securities Litigation, No. RDB-17-388 (the "Action"), presently pending before the Honorable Richard D. Bennett of the United States District Court for the District of Maryland (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Settlement Agreement dated July 12, 2024 (the "Settlement Agreement"), which can be found and downloaded by clicking on the Case Documents tab above.

Pursuant to the Court’s Order dated September 29, 2022, the Court certified this securities case as a class action to proceed on behalf of the Class. The Lead Plaintiff is Aberdeen City Council as Administrating Authority for the North East Scotland Pension Fund and  the Class Representatives are Monroe County Employees’ Retirement System and KBC Asset Management.

In September 2023, a Notice of Pendency of Class Action was mailed to potential Class Members advising them of their options relating to the Action, including staying in the Action or excluding themselves from the Class.    

The parties have now reached a proposed Settlement and, on July 22, 2024, the Court issued an order preliminarily approving the Settlement.

The “Class,” as certified by the Court, consists of: All persons and entities who purchased or otherwise acquired Class A and Class C common stock of Under Armour, Inc. (“Under Armour” or the "Company") between September 16, 2015, and November 1, 2019, inclusive (“Class Period”). Excluded from the Class are Defendants, present or former executive officers and directors of Under Armour and their immediate family members. Also excluded from the Class are the persons and entites who submitted valid requests for exclusion from the Class in connection with the Notice of Pendency of Class Action that was mailed in September 2023.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

Lead Plaintiff alleged that Defendants Under Armour and Kevin A. Plank (collectively, "Defendants") violated the federal securities laws by making materially false and misleading statements or omitting to state facts necessary to make statements made not misleading in public filings and other public statements during the Class Period regarding, inter alia: (a) demand for the Company’s products; (b) drivers of the Company’s growth; and (c) the Company’s financial prospects. Lead Plaintiff further alleged that, as a result, Under Armour’s stock price was artificially inflated, which allegedly resulted in substantial damage to Class Members. Defendants deny each and all of Lead Plaintiff's allegations.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will result in the creation of a cash settlement fund of $434,000,000.00.  This fund, plus any interest earned thereon is the “Settlement Fund.” The Settlement Fund, less: (a) any Taxes and Tax Expenses; (b) any Notice and Administration Costs; and (c) any attorneys’ fees and expenses (as well as any awards to Lead Plaintiff and Class Representatives in connection with their representation of the Class) awarded by the Court (the "Net Settlement Fund") will be distributed to eligible Authorized Claimants – i.e., Class Members who timely submit valid Proofs of Claim that are accepted for payment by the Court – in accordance with the proposed Plan of Allocation (“Plan of Allocation”) or such other plan of allocation as the Court may approve.

The Settlement also contains additional non-monetary terms involving the separation of the Chief Executive Officer and Chairman of the Board of Directors roles and the imposition of performance-based vesting conditions on the compensation of Under Armour's Chief Executive Officer, Chief Financial Officer, and Chief Legal Officer.

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Proposed Settlement of Class Action ("Notice") and the Settlement Agreement. We recommend you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES