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What's Inside Under Armour's $434M Shake-Up?
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Subscribe10 JUL 2024 / ACCOUNTING & TAXES
Under Armour has agreed to pay $434 million to settle a class-action lawsuit filed in 2017, which accused the sports apparel company and its CEO Kevin Plank of misleading shareholders about revenue growth. Despite paying the largest settlement in US securities history, Under Armour denies any wrongdoing and, having secured enough financial reserves to cover the payout without borrowing, expects to end fiscal year 2025 with around $500 million in cash.
Under Armour, the trailblazing sports apparel giant, has found itself in hot water, agreeing to cough up a staggering $434 million to settle a class-action lawsuit from 2017. The allegations? Misleading shareholders about its revenue growth to keep Wall S...
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