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Article Date: July 2020
Word Count: 401

SEC to Probe Under Armour Accounting from 2015, 2016

A Wells notice was sent to Under Armour, executive chairman Kevin Plank and former CFO David Bergman informing them that the SEC will initiate an enforcement action against them in connection with a previously disclosed investigation about the company’s reporting from the third quarter of 2015 through the end of 2016. The gist of the complaint is that Under Dog inflated its reported sales numbers at the end of these six quarters by aggressively pushing out sales to retailers and off-price channels. The Wells notice gives Under Dog an opportunity to make a case to the SEC on why it ... Log in to view full article.


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