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Article Date: September 2020
Word Count: 214

Under Armour Sues Its Execs, Board in New Shareholder Complaint


The case is filed on behalf of the company against former CEO Kevin Plank, current CEO Patrik Frisk, the CFOs and the entire board and essentially repeats many of the arguments in earlier shareholder suits about misleading the investing public in late 2016 and failing to disclose the existence of an SEC probe into its accounting practices for over two years. The investigation did lead to a Wells letter indicating that the agency would proceed with an action against the officers involved. The new suit also argues that the board engaged in a conspiracy to keep the SEC probe from ... Log in to view full article.

 


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