Under Armour to Pay $434 Million to Settle Shareholder Lawsuit

Jun 21, 2024, 09:48 PM

Under Armour has agreed to pay $434 million to settle a shareholder class action lawsuit that dates back to 2017. The lawsuit accused the Baltimore-based sports apparel maker and its CEO, Kevin Plank, of intentionally misleading shareholders about the company's financial health. This settlement aims to resolve claims over past financials and marks a significant step for Under Armour as it continues to focus on innovation to turn around its brand.