Grabar Law Office Files Shareholder Derivative Action Against Officers and Directors Of Under Armour, Inc.

This action arises out of the Defendants’ knowing, conscious, and intentional failure to: (1) adhere to accepted accounting principles regarding revenue recognition, which resulted in materially false and misleading public statements by the Company; and (2) advise the investing public for nearly two-and-a-half years that the Company was under investigation by the United States Department of Justice (“DOJ”) and the United States Securities and Exchange Commission (“SEC”) for its accounting practices. On behalf of UAI, this action seeks damages and corporate governance reforms to remedy Defendants’ breaches of fiduciary duties.

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