On June 24th, Glonhui reported that Under US cable television news, American sports brand Under Armour announced that it has reached an agreement to pay $434 million to settle a long-running 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 condition, exaggerating the company's revenue growth to meet market expectations. According to the settlement proposal, the over $400 million will be used to settle the claims of the plaintiffs and avoid the trial scheduled for July 15th in the federal court in Baltimore. The settlement agreement also requires the final approval of the court. Under Armour still denies the allegations of the plaintiffs and states that the settlement does not admit or deem any wrongdoing or improper conduct by the company.