“Under Armour says US investigators are probing its accounting practices”

[BobPSU92]

See the link below. From the article:

“London (CNN Business) — Under Armour's accounting practices are under investigation in the United States, heaping pressure on the struggling company as it seeks to reverse years of lackluster sales.

The sportswear maker acknowledged in a statement Sunday that it faces probes from the US Department of Justice and the US Securities and Exchange Commission.

"The company began responding in July 2017 to requests for documents and information relating primarily to its accounting practices and related disclosures, and the company firmly believes that its accounting practices and disclosures were appropriate," said a spokesperson for Under Armour.”

https://www.cnn.com/2019/11/04/business/under-armour-accounting-investigation/index.html

 

[Pardlion]

See the link below. From the article:

“London (CNN Business) — Under Armour's accounting practices are under investigation in the United States, heaping pressure on the struggling company as it seeks to reverse years of lackluster sales.

The sportswear maker acknowledged in a statement Sunday that it faces probes from the US Department of Justice and the US Securities and Exchange Commission.

"The company began responding in July 2017 to requests for documents and information relating primarily to its accounting practices and related disclosures, and the company firmly believes that its accounting practices and disclosures were appropriate," said a spokesperson for Under Armour.”

https://www.cnn.com/2019/11/04/business/under-armour-accounting-investigation/index.html

Hard to believe that under armor intentionally cooked it’s books. But, who really cares.

 

[mn78psu83]

Hard to believe that under armor intentionally cooked it’s books. But, who really cares.

Shareholders, short-sellers and securities litigation attorneys.

 

[Pardlion]

Shareholders, short-sellers and securities litigation attorneys.

Hey, at least two of the three will be getting rich.

 

[Nitt1300]

Ethics in America

 

[BobPSU92]

Shareholders, short-sellers and securities litigation attorneys.

And the university of maryland.

 

[PSU2UNC]

Hard to believe that under armor intentionally cooked it’s books. But, who really cares.

My theory is that that the investigators noticed the contract with Maryland Football on the books, watched Maryland play and then realized that was falsification of records, because whatever they are playing, it isn't football. ;-)

 

[PSULionsDub]

My theory is that that the investigators noticed the contract with Maryland Football on the books, watched Maryland play and then realized that was falsification of records, because whatever they are playing, it isn't football. ;-)

Under Armour's contract with Maryland is impaired so they should be recognizing a large multi-million loss in its Financial Statements. I don't think its a coincidence that Kevin Plank announced his resignation just a few short weeks ago.