Federal officials have escalated an investigation into accounting practices at Under Armour at a time when the Baltimore-based sports apparel maker is struggling with worsening losses amid coronavirus-related store shutdowns.
Under Armour and two top executives, including founder Kevin A. Plank, have been alerted that the U.S. Securities and Exchange Commission could file a civil or administrative case alleging unlawful accounting methods, the company disclosed Monday.
‘Enforcement 40’ for 2020
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