Under Armour Investors Can't Get Docs Yet In Stock-Drop Suit

Law360 (February 17, 2021, 7:53 PM EST) -- A Maryland federal judge Wednesday told investors accusing Under Armour of puffing up its sales and financial health that discovery cannot kick off before an upcoming court ruling on whether to toss the case.

U.S. District Judge Richard D. Bennett said in a remote hearing that it was not clear shareholders would be "unduly prejudiced" by further delay in getting a trove of documents from Under Armour related to what it knew about demand for its apparel from mid-2015 to late 2016, when investors were allegedly misled and the stock tanked.

Under Armour wants the case thrown out, in what would...

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