Under Armour Securities Litigation settles for $434 million

If you purchased or acquired Class A or Class C common stock of Under Armour, Inc. between September 16, 2015, and November 1, 2019, you may be eligible to claim an award from a class action settlement.

Under Armour has agreed to pay $434,000,000 to settle a class action lawsuit for alleged violations of federal securities laws by making materially false and misleading statements or omitting necessary facts in public filings and other public statements.

Who can file a claim?

To be eligible to file a claim, you must meet the following criteria:

• Securities: Under Armour Class A or Class C common stock
• Time period: purchased or acquired the shares between September 16, 2015, and November 1, 2019

How much can class members get?

Based on the Plan of Allocation, the average distribution is estimated to be roughly $0.90 per share before deductions for taxes, fees, and expenses.

The actual recovery will be a proportion of the Net Settlement Fund determined by each claimant's recognized claim compared to the total claims of all class members who submit a valid claim form.

Claim per share calculations:

• Class A Common Stock: based on the inflation per share at the time of purchase and sale.
• Class C Common Stock: The claim per share will be calculated similarly, with specific inflation periods as detailed in the settlement notice.

Example per share calculation

For example, if you purchased 100 shares of Class A common stock on January 1, 2016, at $20 per share and sold them on January 1, 2017, at $15 per share, your recognized loss would be calculated as follows:

1. Determine the inflation per share at the time of purchase and sale.
1. Purchase inflation: $11.87 (for the period September 16, 2015 – January 10, 2016)
2. Sale inflation: $11.42 (for the period October 25, 2016 – January 30, 2017)

1. Calculate the lesser of:
1. The difference in inflation per share: $11.87 - $11.42 = $0.45
2. The difference between the purchase price and the selling price: $20 - $15 = $5

1. The recognized loss per share is $0.45. For 100 shares, the total recognized loss is $0.45 \* 100 = $45.

Is proof required to submit a claim?

Yes, claimants need to provide proof to claim an award.

Required documentation includes:

• Stockbroker confirmation slips
• Stockbroker statements
• Other documents evidencing transactions in Under Armour Class A and Class C common stock

How to file a claim

To claim an award, you must submit a Proof of Claim form. You can file a claim online using the online claim form or by mail November 12, 2024.

Mail your completed and signed Proof of Claim to:

Under Armour Securities Litigation

c/o Gilardi & Co. LLC

P.O. Box 301135

Los Angeles, CA 90030-1135

Payments to class members

Payments will be made by check or electronic payment.

$434,000,000 Settlement Fund Breakdown

The settlement fund of $434,000,000 will cover:

• Payments to eligible Class Members
• Taxes and tax expenses
• Notice and administration costs
• Attorneys' fees and expenses
• Awards to Lead Plaintiff and Class Representatives

Important dates

• Fairness Hearing: November 7, 2024
• Deadline to File a Claim: November 12, 2024

When is the Under Armour payout date?

The awards will be paid after the Court grants final approval and any appeals are resolved.

What happens next?

Class Members should submit their Proof of Claim forms by the deadline to be eligible for a payment. The Court will hold a Fairness Hearing on November 7, 2024, to determine whether to approve the settlement.