An investigation for investors in Under Armour, Inc. (NYSE:UA, UAA) shares over potential securities laws violations by Under Armour, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/12/2020 -- Under Armour, Inc. is under investigation over potential securities laws violationsin connection with certain financial statements.
Investors who purchased shares of Under Armour, Inc. (NYSE: UA, UAA), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Under Armour, Inc. (NYSE: UA, UAA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Baltimore, MD based Under Armour, Inc., together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. On July 27, 2020, in an SEC filing, Under Armour, Inc announced that the Company, the Company's Executive Chairman, and the Company's Chief Financial Officer each received a Wells Notice relating to the Company's "disclosures covering the third quarter of 2015 through the period ending December 31, 2016, regarding the use of 'pull forward' sales in connection with revenue during those quarters." Further, t Under Armour, Inc stated that "the SEC Staff is focused on the Company's disclosures regarding the use of pull forward sales in order to meet sales objectives." These notices "informed the Company and the Executives that the SEC Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company and each of the Executives[.]"
Shares of Under Armour, Inc. declined to $8.75 per NYSE: UA share, respectively $9.63 per NYSE: UAA shares on August 4, 2020.
Those who purchased shares of Under Armour, Inc. (NYSE: UA, UAA) have certain options and should contact the Shareholders Foundation.
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