Business

Under Armour Receives 'Wells Notices' From SEC


Securities regulators have warned Under Armour Inc., founder Kevin Plank and its chief financial officer that they could face civil-enforcement action related to the sportswear maker’s past accounting practices.


Under Armour said the Securities and Exchange Commission on Wednesday sent Wells Notices to the company, Mr. Plank and finance chief David Bergman.


The notices relate to the company’s disclosures around its accounting in 2015 and 2016 and “pull forward” sales during those periods.


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