An investigation on behalf of investors of Under Armour Inc (NYSE: UA, NYSE: UAA) shares over potential securities laws violations by Under Armour Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Under Armour Inc (NYSE: UA, NYSE: UAA) concerning whether a series of statements by Under Armour Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Baltimore, MD based Under Armour Inc reported htat its annual Total Revenue rose from over $4.85 billion in 2016 to over $4.97 billion in 2017 and that its Net Income of $256.97 million in 2016 declined to a Net Loss of $48.26 million in 2017.

On March 29, 2018, Under Armour Inc announced that personal data of approximately 150 million users of the companys MyFitnessPal nutrition-tracking application and website had been compromised by a data security breach. Hackers gained access to user names, email addresses and passwords.

On April 3, 2018, NYSE: UA, NYSE: UAA shares closed at $13.99 per share.