July 27, 2020
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.
Net loss at the luxury outerwear maker was €31,632,000 ($34.8 mm) in the first half against a profit of €69,989,000 last year, as store closures that lasted through Apr. and May in many markets sent sales plunging 29% to €403,334,000 ($444.2 mm) from €570,246,000.
Standard & Poor’s cut ICON’s issuer credit rating to CCC- from CCC, lowered its rating on the company’s senior secured term loan, and said the outlook was negative.
The president of boat maker Nova Craft Canoe has taken a majority stake in the Toronto, ON-based paddle sports store.
The company’s website functions, customer support, customer facing applications, and internal communications were brought down by a ransomware attack that encrypted some computer systems.