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Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Under Armour Securities Litigation

By: Robbins Geller Rudman & Dowd LLP via Business Wire

August 19, 2024 at 08:00 AM EDT

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Under Armour Securities Litigation:

IN THE UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF MARYLAND

In re UNDER ARMOUR SECURITIES LITIGATION		Civil No. RDB-17-388
		CLASS ACTION

This Document Relates To:
ALL ACTIONS.

SUMMARY NOTICE

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED CLASS A AND CLASS C COMMON STOCK OF UNDER ARMOUR, INC. (“UNDER ARMOUR”) BETWEEN SEPTEMBER 16, 2015, AND NOVEMBER 1, 2019, INCLUSIVE (THE “CLASS PERIOD”)

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the District of Maryland, a hearing will be held on November 7, 2024, at 11:00 a.m. ET, before the Honorable Richard D. Bennett, United States District Judge, at the U.S. Courthouse, 101 West Lombard Street, Baltimore, MD 21201, for the purpose of determining: (1) whether the proposed Settlement of the Action for the sum of Four Hundred Thirty-Four Million Dollars ($434,000,000.00) in cash and additional non-monetary terms should be approved by the Court as fair, reasonable, and adequate, which would result in this Action being dismissed with prejudice against the Released Persons as set forth in the Settlement Agreement, dated as of July 12, 2024; (2) whether the Plan of Allocation of settlement proceeds is fair, reasonable, and adequate and therefore should be approved; and (3) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses in connection with this Action, together with interest thereon, and the application of Lead Plaintiff and Class Representatives for an award pursuant to 15 U.S.C. §78u-4(a)(4) in connection with their representation of the Class.

If you purchased, acquired, or sold Under Armour Class A and/or Class C common stock during the Class Period, your rights may be affected by this Action and the Settlement thereof. If you have not received a detailed Notice of Proposed Settlement of Class Action and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Under Armour Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 301135, Los Angeles, CA 90030-1135, or by downloading this information at www.UnderArmourSecuritiesLitigation.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release form by mail or electronically via the website (no later than November 12, 2024),¹ at www.UnderArmourSecuritiesLitigation.com, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Action unless you excluded yourself from the Class, in writing, on or before November 27, 2023, pursuant to the requirements set forth in the Notice of Pendency dated August 24, 2023.

Any objection to any aspect of the Settlement must be filed with the Clerk of the Court no later than October 17, 2024, and received no later than October 17, 2024 by the following:

ROBBINS GELLER RUDMAN & DOWD LLP

ROBERT R. HENSSLER JR.

655 West Broadway, Suite 1900

San Diego, CA 92101

Counsel for Lead Plaintiff

FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP

JAMES D. WAREHAM

801 17th Street NW

Washington, DC 20006

PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP

DANIEL J. KRAMER

1285 Avenue of the Americas

New York, NY 10019

Counsel for Defendants

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, OR DEFENDANTS REGARDING THIS NOTICE.

DATED: July 22, 2024

BY ORDER OF THE

UNITED STATES DISTRICT COURT

DISTRICT OF MARYLAND

¹Proofs of Claim, objections, and other correspondence that are legibly postmarked will be treated as received on the postmark date. Please be advised that the U.S. Postal Service may not postmark mail which is not presented in person.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240819389798/en/

Contacts

Media:

Robbins Geller Rudman & Dowd LLP

Shareholder Relations Department

Greg Wood

(619) 231-1058

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