Under Armour

Under Armour Settles Lawsuit for $434 Million Over Sales Disclosures

BySamod Biobaku

Sportswear giant Under Armour has announced a settlement of $434 million to resolve a class-action lawsuit dating back to 2017, which accused the company of misleading shareholders about its revenue growth. The settlement, pending court approval, comes ahead of a scheduled trial on July 15 in a Baltimore federal court, averting further legal proceedings. Shareholders…

Under Armour

Once a Strong Nike Competitor, Under Armour Now Struggles to Stay Relevant

BySamod Biobaku

Under Armour, once touted as a formidable rival to Nike, is now grappling to maintain its relevance in an increasingly competitive sportswear market. Founded by 23-year-old former college athlete Kevin Plank, the brand gained prominence with endorsements from basketball star Stephen Curry and golfer Jordan Spieth. However, it now faces significant challenges as younger consumers…