NEW YORK, Feb. 6, 2017 /PRNewswire/ -- 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 firstname.lastname@example.org 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 January 31, 2017, Under Armour disclosed lower-than-anticipated fourth-quarter 2016 revenues, announcing that the Company's revenue growth had fallen below 20% for the first time in 26 quarters. Concurrently, Under Armour announced the resignation of the Company's chief financial officer, Chip Molloy, after a tenure of only 13 months.
On this news, Under Armour's share price fell $7.45, or 25.74%, to close at $21.49 on January 31, 2017.
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
Robert S. Willoughby
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SOURCE Pomerantz LLP