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Under Armour faces federal investigation over accounting practices

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Kevin Plank, founder and CEO of Under Armour sportswear, in his office in Baltimore, Maryland on October 1, 2009.

Bill O’Leary | The Washington Post | Getty Images

Under Armour is the subject of federal investigations by the Justice Department and Securities and Exchange Commission over its accounting practices, the company confirmed Sunday. 

Under Armour began responding in July 2017 to requests for documents and information related to its accounting practices and related disclosures. Under Armour is cooperating with both investigations and believes its accounting practices and disclosures were appropriate, a company spokesperson said. 

The Justice Department is conducting a criminal…



Source cnbc.com

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