Under Armour Investors Seeking Early Document Access Strike Out

Under Armour Inc. investors failed to show they deserve relief from a standard discovery stay in their would-be class lawsuit accusing the company of misleading them about product demand, a federal judge in Maryland said.

The sportswear brand’s investors wanted permission for an early look at documents Under Armour had already reviewed and produced as part of a Securities and Exchange Commission investigation of its accounting practices and revenue recognition policies, but the U.S. District Court for the District of Maryland rejected their request.

The Private Securities Litigation Reform Act includes a routine discovery stay while a motion to dismiss ...