SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Under Armour Inc. - UAA
NEW YORK, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Under Armour, Inc. (“Under Armour” or the “Company”) (NYSE: UAA). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Under Armour and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 5, 2018, The Wall Street Journal published an article entitled “Under Armour’s #MeToo Moment: No More Strip Clubs on Company Dime”. Citing interviews with current and former employees and executives, the article reported that “[o]ver the years, executives and employees of the sports-apparel company, including Chairman and Chief Executive Kevin Plank, went with athletes or co-workers to strip clubs after some corporate and sporting events, and the company often paid for the visits of many attendees”. Describing strip-club visits as “symptomatic of practices women at Under Armour found demeaning,” the article further reported that “[s]ome top male executives violated company policy by behaving inappropriately with female subordinates” and that “[w]omen were invited to an annual company event based on their attractiveness to appeal to male guests”. Following this news, Under Armour’s stock price fell sharply during intraday trading on November 6, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com