SHAREHOLDER ALERT: Maryland-Based Law Firm, Brower Piven, A Professional Corporation, Files First Class Action Lawsuit Against Under Armour, Inc. (UA, UAA) And Encourages Those Who Have Losses In Excess Of $100,000 To Contact Brower Piven Before The Lead

STEVENSON, Md., Feb. 14, 2017 -- The securities litigation law firm of Brower Piven, A Professional Corporation, has filed a class action lawsuit in the United States District Court for the District of Maryland on behalf of purchasers of Under Armour, Inc. (NYSE:UA) (NYSE:UAA) (“Under Armour” or the “Company”) common stock during the period between April 21, 2016 and January 30, 2017, inclusive (the “Class Period”).  The action is captioned Brian Breece v. Under Armour, Inc., et. al. (1:17-cv-00388).  Investors who wish to become proactively involved in the litigation have until April 10, 2017 to seek appointment as lead plaintiff. 

Under Armour is a corporation organized under the laws of the State of Maryland with its principal place of business located in Baltimore, Maryland.  Brower Piven is the only firm headquartered in Maryland that has a practice dedicated primarily to shareholder class action litigation.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Under Armour common stock during the Class Period.  Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Under Armour’s revenue and profit margins would not be able to withstand the heavy promotions, high inventory levels and ripple effects of numerous department store closures and the bankruptcy of one of its large retailers.  Instead, Under Armour promoted itself as a growth company that would continue to develop and market game-changing products.

According to the complaint, the fraud was revealed on January 31, 2017 when Under Armour released weaker-than-expected earnings for the fourth quarter of 2016, and the poor results were in fact tied to market factors, such as department store closings.

If you have suffered a loss in excess of $100,000 from investment in Under Armour common stock purchased on or after April 21, 2016 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.  You may also request more information by contacting Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.  Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

CONTACT:  Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
[email protected]