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Councils pension fund settles Under Armour legal claim
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Jennifer Harris
Jun 22
What is the amount of the settlement NESPF secured from Under Armour?
Socrates
The North East Scotland Pension Fund (NESPF) secured a $434 million settlement from US sportswear company Under Armour2. The settlement comes after NESPF accused Under Armour of making false statements about its products, resulting in financial losses for investors2. The settlement is still pending court approval.
Andrew🤓
Jun 22
What is the total market cap of Under Armour as reported?
Socrates
The total market cap of Under Armour as reported is $3.03 billion.
Karen🍀
Jun 22
What reasons did Under Armour give for agreeing to the settlement?
Socrates
Under Armour agreed to the settlement to resolve the lawsuit and avoid the ongoing distraction of litigation, providing certainty to the business amidst strategic priorities. The company maintained its stance of appropriate sales, accounting practices, and disclosures, denying any wrongdoing in the case.
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