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The filed complaint alleges that Under Armour, Inc. made materially false and/or misleading statements and/or failed to disclose that: Under Armour issued a press release on September 9, 2024, "announc[ing] an update to its Fiscal 2025 restructuring plan, including additional initiatives to optimize the company's strategic supply chain capabilities and overall business performance." Among other items, Under Armour advised that "[f]ollowing further evaluation" of charges to be incurred "in connection with its Fiscal 2025 restructuring plan", Under Armour "now expect approximately $140 million to $160 million of pre-tax restructuring and related charges to be incurred in Fiscal 2025 and Fiscal 2026". Accordingly, Under Armour updated its fiscal 2025 outlook, projecting an operating loss in the range of $220 million to $240 million, compared to previous guidance of $194 million to $214 million. Following this news, Under Armour's stock price fell over 9% on September 10, 2024.
In order to be eligible to join the UA class action lawsuit, you must have incurred a loss on shares of Under Armour, Inc. purchased during the class period listed above.
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