BALTIMORE (Legal Newsline) — An investor has filed a class action lawsuit against Under Armour and its officers, alleging violation of federal law.
Ben Stenger filed a complaint, individually and on behalf of all other similarly situated, March 2 in the U.S. District Court for the District of Maryland against Under Armour, Inc., Kevin A. Plank and Lawrence P. Molloy, alleging they issued false and misleading information regarding the company.
According to the complaint, Stenger sustained monetary damages from purchasing Under Armour securities at inflated prices. The plaintiff alleges the defendants released incorrect statements and misleading information regarding the business in order to artificially inflate security prices.
Stenger seeks trial by jury, compensatory and all other damages, interest, court costs and any further relief the court grants. He is represented by attorneys Nicholas I. Porritt and Shannon L. Hopkins of Levi & Korsinsky LLP in Washington, D.C., and Stamford, Connecticut.
U.S. District Court for the District of Maryland Case number 1:17-cv-00611-RDB