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Under Armour announces settlement of SEC matter

wasted money
Posted at 8:12 PM, May 03, 2021
and last updated 2021-05-03 20:12:59-04

BALTIMORE — Under Armour announced on Monday they've entered into a settlement with the U.S. Securities and Exchange Commission, resolving an investigation related to disclosure and the impact of certain "pull forward" sales for the third quarter of 2015 through the fourth quarter of 2016.

The Company has agreed to pay a civil monetary penalty of $9.0 million as well as other non-monetary settlement terms.

According to Under Armour, "this settlement relates to the Company's disclosures and does not include any allegations from the SEC that sales during these periods did not comply with generally accepted accounting principles. The Company neither admitted nor denied the SEC's charges. The settlement resolves all outstanding SEC claims."