Under Armour Ducks Investors' Stock Price Manipulation Suit
Law360 (September 19, 2018, 5:18 PM EDT) -- A Maryland federal judge on Wednesday dismissed all claims against Under Armour and its underwriters in a consolidated action alleging the sports apparel company deliberately misled investors to inflate its stock price, ruling that a pension fund's claims under the Securities Act were time-barred and that another fund failed to state claims under the Exchange Act.
U.S. District Judge Richard D. Bennett wrote in a memorandum order that Bucks County Employees Retirement Fund, which initially brought the two Securities Act of 1933 counts alleging that Under Armour, its underwriters and its officers gave false information to boost stock prices before those officers...
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