Under Armour Settles $434M Shareholder Lawsuit

The settlement resolves accusations of misleading investors about sales and revenue growth from 2015 to 2019.

The $434 million settlement requires court approval and avoids a scheduled trial.
The lawsuit accused Under Armour of false statements regarding its financial health and sales practices.
Under Armour denies wrongdoing but agreed to the settlement to avoid litigation costs and risks.
The company will fund the settlement through cash reserves and a credit facility.
Governance changes include separating the roles of board chair and CEO for three years.