Under Armour agrees to pay $9M to settle SEC accounting probe

Under Armour agrees to pay $9M to settle SEC accounting probe

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Under Armour Inc. has agreed to pay a $9 million penalty to to the U.S. Securities and Exchange Commission to resolve a four-year investigation into its accounting practices. The SEC charged Baltimore-based Under Armour with misleading investors regarding the basis of its revenue growth and "failing to disclose known uncertainties concerning its future revenue prospects." Specifically, the SEC determined the sportswear maker violated federal antifraud provisions and certain reporting provisions…

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