Under Armour Execs Defeat Investors' Real Estate Deal Suit

Law360 (March 30, 2020, 4:51 PM EDT) -- Under Armour Inc.'s founder and onetime CEO Kevin Plank and several board members escaped a shareholder suit accusing Plank of using his real estate firm to bilk the sports apparel company out of millions, after a Maryland federal court found the board's decision not to pursue those claims was reasonable.

In a 22-page opinion filed Monday, U.S. District Judge George L. Russell said shareholders Patricia Mioduszewski and Scott King had failed to show that an investigation into their claims conducted by the board's so-called review group, and the group's subsequent decision not to pursue a suit against Plank, was anything other than...

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