Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of Under Armour, Inc. /zigman2/quotes/208967132/composite UA -1.09% /zigman2/quotes/204420722/composite UAA -1.37% resulting from allegations that management may have issued materially misleading business information to the investing public.
On July 27, 2020, in an SEC filing, Under Armour announced that the Company, the Company’s Executive Chairman, and the Company’s Chief Financial Officer each received a Wells Notice relating to the Company’s “disclosures covering the third quarter of 2015 through the period ending December 31, 2016, regarding the use of ‘pull forward’ sales in connection with revenue during those quarters.” Further, the Company stated that “the SEC Staff is focused on the Company’s disclosures regarding the use of pull forward sales in order to meet sales objectives.” These notices “informed the Company and the Executives that the SEC Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company and each of the Executives[.]”
If you currently own shares of Under Armour, please visit the firm’s website at https://www.rosenlegal.com/cases-register-1908.html for more information. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com .
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm .
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200727005598/en/
SOURCE: Rosen Law Firm
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40 [th] Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
Is there a problem with this press release? Contact the source provider Comtex at firstname.lastname@example.org. You can also contact MarketWatch Customer Service via our Customer Center.
Copyright Business Wire 2020