According to the US cable television news network, the American sports brand Under Armour announced on the 21st local time that it has reached an agreement to pay $434 million (approximately RMB 3.09 billion) to settle a several-year-long collective lawsuit. The lawsuit began in 2017 when Under Armour shareholders accused Under Armour and its CEO, Kevin Plank, of intentionally misleading shareholders by providing false information about the company's financial situation, overstating the company's revenue growth to meet market expectations. It is worth mentioning that this is not the first time that Under Armour has faced legal disputes over financial disclosures. (CCTV Finance)
安德玛将支付超30亿元和解一桩集体诉讼
Under Armour will pay over 3 billion yuan to settle a collective lawsuit.
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