Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Under Armour Securities Litigation
19 Agosto 2024 - 7:00AM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240819389798/en/
Media: Robbins Geller Rudman & Dowd LLP Shareholder
Relations Department Greg Wood (619) 231-1058