Nov 3 (Reuters) - Below Armour Inc UAA.N is being probed by U.S. federal legislation enforcement of
Nov 3 (Reuters) – Below Armour Inc UAA.N is being probed by U.S. federal legislation enforcement officers, inspecting whether or not the sportswear maker shifted gross sales from quarter to quarter to seem more healthy, the Wall Road Journal reported on Sunday.
A prison Inquiry is being performed by U.S. Justice Division prosecutors, who’re additionally coordinating with civil investigators on the U.S. Securities and Trade Fee, the report added, citing a supply.
Below Armour didn’t instantly reply to a request in search of remark exterior common enterprise hours.
Final month, Below Armour stated longtime Chief Government Officer Kevin Plank was stepping down from the position subsequent yr, handing the reins of the sportswear maker to operations head Patrik Frisk, in an try to assist battle brutal competitors from Nike Inc NKE.N and Adidas AG ADSGn.DE in the USA.
(Reporting by Mekhla Raina in Bengaluru; Enhancing by Peter Cooney)
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