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Council pension fund in legal fight with Under Armour

BBC News Published image captionUnder Armour has previously said the legal challenge was without merit Aberdeen City Council has sought damages from a US sportswear brand after a local government pension fund lost millions of pounds. The North East Scotland Pension Fund (NESPF) administers a scheme for 71,000 workers including Aberdeen, Aberdeenshire and Moray council staff. The fund invested millions of pounds in Under Armour stock in recent years. Aberdeen City Council lawyers have accused the firm of making alleged false statements about its products. Under Armour, whose accounts have been the subject of investigations by US authorities, has been asked for a comment.

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