Under Armour founder and CFO named in SEC probe
Shares tumble after executives named in a US federal probe of the company’s accounting
27 July 2020 - 18:10
New York — Under Armour said on Monday a pair of top executives, including founder Kevin Plank, has been named in a federal probe of the company’s accounting, sending shares of the athletic wear maker plunging.
Plank and CFO David Bergman received Wells Notices informing them that the US Securities and Exchange Commission is likely to “allege certain violations of the federal securities laws”, Under Armour said Monday in a regulatory filing. Under Armour also received a notice informing it that the agency may file an enforcement action against the company...
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