Under Armour SEC Archives - Corruption, Crime & Compliance

18 May, 2021

Under Armour Agrees to Pay $9 Million to Settle SEC Charges it Mislead Investors About Revenue Growth

Under Armour settled its long-pending SEC investigation by agreeing to pay $9 million surrounding misleading statements and practices relating to its revenue growth and uncertainties as to future growth. As part of the settlement, the SEC declined to bring charges against its CEO, Kevin Plank, and its CFO, David Bergman. The Justice Department inquiry appears to have lost steam since the middle of last year,...

General

11 Nov, 2019

Under Armour Under DOJ and SEC Investigation For Revenue Recognition Scheme

The Justice Department and the SEC have launched criminal and civil accounting fraud investigations against Under Armour. The sportswear maker has been suffering a rapid revenue decline over the last few years. The allegations focus on Under Armour’s accounting practices and shifting of sales from quarter to quarter to present a healthier picture of its finances than was actually occurring. Under Armour Culture Problems Over...