It is set to report quarterly earnings on Friday before the bell. “The Wells 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 that would allege certain violations of the federal securities laws.” Under Armour said that it maintains its actions were “appropriate,” and it intends “to work toward a resolution of this matter” with the SEC. Under Armour began responding in July 2017 to requests for documents and information related to its accounting practices and related disclosures, a company spokesperson said at the time. Under Armour shares tumbled Monday after the company disclosed it received notice of a possible enforcement action from the Securities and Exchange Commission related to the accounting treatment of sales it booked between the third quarter of 2015 and the fourth quarter of 2016.. Please call our customer service agents to find out how to process your returns. The retailer's stock was up nearly 2% in afternoon trading, having fallen premarket. Under Armour's stock sinks after disclosing receipt of 'Wells Notice' from SEC Published: July 27, 2020 at 8:13 a.m. ET On July 22, Under Armour as well as two executives — Kevin Plank, its former CEO and current executive chairman, and David Bergman, its current CFO — received Wells notices from the SEC related to a previously disclosed probe by the agency, the company said in an 8-K filing. Under Armour Brand House or Factory House returns are processed for a refund issued to the original method of payment. Because we want you to be 100% satisfied with your purchase and experience with us, you will be able to return your purchase(s) made at underarmour.com.my within 14 days of receipt of your order for a full refund. 8 hours Under Armour shares tumble after company reveals receipt of ‘Wells notice’ from SEC over sales probe CNBC . Under Armour shares have fallen almost 50% this year, and the company has a market cap of $5 billion. On July 22, Under Armour as well as two … On July 22, Under Armour and two executives — Kevin Plank and David Bergman — received Wells notices from the SEC related to a previously disclosed probe by the agency. It is set to report quarterly earnings on Friday before the bell. Meantime, Under Armour has faced turmoil in its executive ranks. ""The Company and the Executives maintain that their actions were appropriate and intend to pursue the Wells Notice process, which will include the opportunity to respond to the SEC Staff’s position, and also expect to engage in a dialogue with the SEC Staff to work toward a resolution of this matter," Under Armour added. Last November, the company confirmed it was the subject of federal investigations by the Justice Department and SEC over its accounting practices. An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida.Under Armour on Monday disclosed it received notice of a possible enforcement action from the Securities and Exchange Commission related to the accounting treatment of sales it booked between the third quarter of 2015 and the fourth quarter of 2016. "The Wells 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 that would allege certain violations of the federal securities laws.
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