NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of Under Armour, Inc. (NYSE: UA, UAA) resulting from allegations that management may have issued materially misleading business information to the investing public.
On July 27, 2020, in an SEC filing, Under Armour 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, the Company 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[.]”
If you currently own shares of Under Armour, please visit the firm’s website at https://www.rosenlegal.com/cases-register-1908.html for more information. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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