The company has consistently denied the accusations and entered into this agreement in principle, which is not an admission or finding of fault or wrongdoing, given the costs and risks inherent in litigation.
Under the terms of the agreement,
The settlement, if approved by the court, would resolve all claims against
"We firmly believe that our sales practices, accounting practices, and disclosures were appropriate, and deny any wrongdoing in this case," said
The settlement is subject to definitive documentation and final court approval.
The company intends to pay the settlement amount through cash on hand and/or by drawing on its
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Forward-Looking Statements
Some of the statements contained in this press release constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, such as statements in this press release regarding the ability to reach an agreement on definitive documentation with respect to the proposed settlement and to obtain final court approval of the proposed settlement; the ability to satisfy the conditions of the proposed settlement; the charges expected to be incurred and the source of funds to be used to resolve these matters; and our expectations regarding our future cash and liquidity forecasts. The forward-looking statements in this press release reflect our current views and assumptions, as of the date of this press release, about future events. They are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, activity levels, performance, or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect unanticipated events.
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SOURCE
Under Armour Contacts: Investor Relations: Lance Allega, SVP, Investor Relations, Treasury and Corporate Development, (410) 246-6810; Media: Steve Lipin / Felipe Ucrós, Gladstone Place Partners, (212) 230-5930, ua@gladstoneplace.com