NEW YORK, Nov. 18, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Under Armour, Inc. ("Under Armour" or the "Company") (NYSE: UA; UAA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Under Armour and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 3, 2019, the Wall Street Journal reported that Under Armour is under investigation by the Department of Justice and Securities and Exchange Commission in connection with its accounting practices. Specifically, the investigation's focus is whether Under Armour improperly shifted sales from quarter to quarter in order to appear financially healthier.
On this news, Under Armour's Class A common stock price fell $4.00 per share, or 18.92%, to close at $17.14 per share, while Under Armour's Class C common stock price fell $3.47 per share, or 18.35%, to close at $15.44 per share on November 4, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP