Stock Market News

Under Armour to pay $434 million to settle 2017 lawsuit

2024.06.21 17:50

(Reuters) – Under Armour (NYSE:) said on Friday it would settle a 2017 shareholder class action lawsuit that accused the apparel maker and CEO Kevin Plank of intentionally misleading them about the company’s financial health.

© Reuters. FILE PHOTO: The ticker symbol and company logo for Under Armour, Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 22, 2019. REUTERS/Brendan McDermid/File Photo

Under Armour said it intends to pay the settlement amount of $434 million through cash on hand as well as by drawing on its $1.1 billion revolving credit facility.

Under Armour added it has consistently denied the accusations and entered into this agreement in principle, which is not an admission or finding of fault or wrongdoing.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 67,080.97 0.27%
ethereum
Ethereum (ETH) $ 3,513.41 0.09%
tether
Tether (USDT) $ 1.00 0.07%
bnb
BNB (BNB) $ 595.05 0.16%
solana
Solana (SOL) $ 174.04 2.66%
staked-ether
Lido Staked Ether (STETH) $ 3,512.01 0.03%
usd-coin
USDC (USDC) $ 1.00 0.01%
xrp
XRP (XRP) $ 0.59095 2.47%
dogecoin
Dogecoin (DOGE) $ 0.133797 6.61%
the-open-network
Toncoin (TON) $ 7.28 0.29%
cardano
Cardano (ADA) $ 0.43554 1.67%
tron
TRON (TRX) $ 0.134495 0.13%
avalanche-2
Avalanche (AVAX) $ 28.80 1.47%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 0.45%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 67,062.97 0.19%
polkadot
Polkadot (DOT) $ 6.32 0.24%
chainlink
Chainlink (LINK) $ 14.28 1.40%
bitcoin-cash
Bitcoin Cash (BCH) $ 395.13 0.37%
near
NEAR Protocol (NEAR) $ 6.28 2.32%
uniswap
Uniswap (UNI) $ 7.97 0.48%
litecoin
Litecoin (LTC) $ 73.33 0.26%
dai
Dai (DAI) $ 0.999885 0.07%
leo-token
LEO Token (LEO) $ 5.68 2.92%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,663.57 0.02%
pepe
Pepe (PEPE) $ 0.000012 4.56%
matic-network
Polygon (MATIC) $ 0.539795 1.46%
internet-computer
Internet Computer (ICP) $ 10.23 0.39%
kaspa
Kaspa (KAS) $ 0.180706 1.28%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.46 1.83%
ethereum-classic
Ethereum Classic (ETC) $ 23.98 1.32%
aptos
Aptos (APT) $ 7.40 1.03%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
stellar
Stellar (XLM) $ 0.105117 0.33%
monero
Monero (XMR) $ 163.45 0.85%
mantle
Mantle (MNT) $ 0.89601 0.69%
blockstack
Stacks (STX) $ 1.92 1.37%
render-token
Render (RNDR) $ 6.92 2.86%
filecoin
Filecoin (FIL) $ 4.69 0.29%
hedera-hashgraph
Hedera (HBAR) $ 0.07454 1.32%
injective-protocol
Injective (INJ) $ 27.28 2.69%
dogwifcoin
dogwifhat (WIF) $ 2.63 2.16%
maker
Maker (MKR) $ 2,795.25 2.08%
arbitrum
Arbitrum (ARB) $ 0.77653 0.17%
okb
OKB (OKB) $ 42.87 1.59%
cosmos
Cosmos Hub (ATOM) $ 6.51 0.50%
immutable-x
Immutable (IMX) $ 1.65 2.63%
crypto-com-chain
Cronos (CRO) $ 0.093606 1.24%
vechain
VeChain (VET) $ 0.030619 3.18%
bittensor
Bittensor (TAO) $ 341.55 3.06%
arweave
Arweave (AR) $ 33.37 1.09%