NEW YORK, Nov. 7, 2019 /PRNewswire/ -- Bernstein Liebhard,
a nationally acclaimed investor rights law firm, announces that a
securities class action has been filed on behalf of investors that
purchased or acquired the securities of Under Armour, Inc.
("Under Armour" or the "Company") (NYSE: UA, UAA) between
August 3, 2016 and November 1, 2019, inclusive (the "Class
Period"). The lawsuit filed in the
United States District Court for the District of
Maryland alleges violations of the
Securities Exchange Act of 1934.
If you purchased Under Armour securities, and/or would like
to discuss your legal rights and options please visit Under
Armour Shareholder Class Action or contact Matthew E. Guarnero toll free at (877)
779-1414 or MGuarnero@bernlieb.com.
According to the lawsuit, defendants throughout the Class Period
made false and/or misleading statements and/or failed to disclose
that: (1) Under Armour shifted sales from quarter to quarter to
appear healthier, including to keep pace with their long-running
year-over-year 20% net revenue growth; (2) the Company had been
under investigation by and cooperating with the U.S. Department of
Justice and U.S. Securities and Exchange Commission since at least
July 2017; and (3) as a result,
defendants' statements about its business, operations, and
prospects, were materially false and misleading and/or lacked a
reasonable basis at all relevant times. When the true details
entered the market, the lawsuit claims that investors suffered
damages.
On November 3, 2019, the Wall
Street Journal reported on U.S. Department of Justice and
Securities and Exchange Commission investigations into Under
Armour's accounting practices and related disclosures.
On this news, Class C shares of Under Armour (UA) fell
$3.47 per share or 18.35% to close at
$15.44 per share and Class A shares
of Under Armour (UAA) fell $4.00 per share or 18.92% to close at
$17.14 per share on November 4, 2019, damaging investors.
If you purchased Under Armour securities, and/or would like
to discuss your legal rights and options please visit
https://www.bernlieb.com/cases/underarmourinc-ua-shareholder-class-action-lawsuit-212/apply/ or
contact Matthew E. Guarnero toll
free at (877) 779-1414 or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than January 6, 2020. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National
Law Journal's "Plaintiffs' Hot List" thirteen times and
listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP