An Under Armour data breach affected 150 million users of its MyFitnessPal app. Shares of the fitness apparel company (NYSE:UAA) have been on a steady downward trend since the company announced a data breach on its MyFitnessPal app one week ago.
Under Armour issued a press release on March 29, 2018, saying that the “usernames, email addresses, and hashed passwords” of almost 150 million MyFitnessPal users was acquired by an unauthorized third party, in late February 2018.
According to the company, credit and debit card data was not affected “because it is collected and processed separately.”
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The breach also did not include any government official identifications, such as Social Security Numbers or drivers licenses, because the company does not collect that information from its users.
Under Armour says that they are working to assist in the investigation, which is still ongoing, with data security firms and law enforcement.
Additionally, the company notified MyFitnessPal users via email and advised them to review and take certain security steps regarding their accounts, including changing their account passwords immediately.
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MyFitnessPal is Under Armour’s food and nutritional application website that they acquired in February 2015.
Although shares went down after the announcement was made, the company did have a slight boost in the market within the last week.
Currently, it looks as if Under Armour will continue with another downward trend.
The recent decrease in stock can also be attributed to the fact that New York-based Bronstein, Gewirtz & Grossman, LLC, recently announced that they will be investigating potential claims on “whether Under Armour and certain of its officers and/or directors have violated federal securities laws.”
Shares closed at a value of $17.47 USD, going down 2.35%, and reached a low of $17.23 on Thursday, after opening at $17.63.
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