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UA - Under Armour Founder CFO Receive SEC Notices Over Accounting Irregularities
Under Armour Inc. Class C
Staff members at the Securities and Exchange Commission are recommending that the agency take enforcement action against Under Armour(NYSE: UA)(NYSE: UAA) for accounting irregularities regarding sales that occurred between the third quarter of 2015 and the fourth quarter of 2016.
The apparel company said company founder Kevin Plank, who is executive chairman and brand chief, and chief financial officer David Bergman received Wells Notices last week from the regulatory agency arising out of its investigation into the company's accounting practices.