UAA - Under Armour settles SEC charges of misleading investors in 2015

The Securities and Exchange Commission formally charges Under Armour ([[UAA]], [[UA]]) with misleading investors back in 2015 as to the bases of its revenue growth and failing to disclose known uncertainties concerning its future revenue prospects.Under Armour has agreed to pay $9M to settle the SEC action.The order states that Under Armour accelerated or pulled forward a total of $408M in existing orders that customers had requested be shipped in future quarters. As stated in the order, Under Armour misleadingly attributed its revenue growth during this period to various factors without disclosing to investors material information about the impacts of its pull forward practices. The order finds that Under Armour failed to disclose that its increasing reliance on pull forwards raised significant uncertainty as to whether the company would meet its revenue guidance in future quarters.UAA is flat in after-hours trading.SEC press release

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Under Armour settles SEC charges of misleading investors in 2015