NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired common stock shares of Under Armour, Inc. (“Under Armour”) (NYSE: UA, UAA) between July 24, 2014 and January 30, 2017. You are hereby notified that Levi & Korsinsky has commenced a securities class action entitled Stenger v. Under Armour, et al., 1:17-cv-00611-GLR in the USDC for the District of Maryland (click here to view the complaint). To get more information go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Under Armour and certain of its officers and directors made materially false and misleading statements and/or failed to disclose that one of its largest wholesale retailers, The Sports Authority, was facing bankruptcy and, as a result of its high inventory levels at The Sports Authority, Under Armour was at risk of not meeting its revenue and profit margins.
On January 30, 2017, the Company filed a Form 8-K wherein CEO Kevin Plank noted that “numerous challenges and disruptions in North American retail tempered our [the Company’s] fourth quarter results.” The Company also reported that its CFO was leaving the Company. Following this news, shares of Under Armour fell approximately 26% to close at $21.49 per share on January 31, 2017.
Take Action: if you suffered a loss in Under Armour you have until April 10, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.