Under Armour receipt

Under Armour's Return Policy. Under Armour reveals receipt of ‘Wells notice’ from SEC over sales probe Share 0 An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida. Just a heads up that we reserve the right to keep your information on file and share it with our affiliates as outlined in the Under Armour privacy policy . 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.. Under armour White Under armour Stephen Curry Athletic Shoes for Men, Men's Under armour Shirts,

Under Armour shares have fallen almost 50% this year, and the company has a market cap of $5 billion. "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 is by far the youngest of the three stocks, having gone public in 2005. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. Plank, 57, stepped aside as CEO of Under Armour -- a business he founded in 1996 -- in October of last year , just weeks before the group revealed that it was co-operating with investigations from both the Securities and Exchange Commission and the U.S. Department of Justice.The probes followed a Wall Street Journal report that the two agencies were looking into the company's revenue recognition accounting, which it said was used to flatter sales from quarter to quarter. On July 22, Under Armour in addition to 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 The SEC's investigation was looking into the timing of Under Armour's sales, and if the company tried to make them appear stronger than they were. "The SEC Staff has not alleged any revenue recognition or other violations of generally accepted accounting principles relating to that or any other period," the company said in the filing. 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 company had been on a sales streak, posting 26-straight quarters of sales growth of more than 20%, which came to a sudden end at the end of 2016. 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. A Wells notice doesn’t necessarily mean the company or the executives violated the law. "Wells Notice is neither a formal charge of wrongdoing nor a final determination that the recipient has violated any law," Under Armour said in a filing with the SEC Monday. "Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more.Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more.Under Armour said the Wells Notices were linked to 'pull forward' sales booked in 2015 and 2016 and targeted chairman Kevin Plank and CFO David Bergman.© 2020 TheStreet, Inc. All rights reserved.

I think investors will return to looking to what the future prospects are for the company," said BMO Capital Markets analyst Simeon Siegel. ” … 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, meantime, said Monday that it maintains its actions were “appropriate,” and it intends “to work toward a resolution of this matter” with the SEC. The  retailer's stock was up nearly 2% in afternoon trading, having fallen premarket. Under Armour said Monday that it maintains its actions were "appropriate," and it intends "to work toward a resolution of this matter" with the SEC. The notices relate to the accounting treatment of sales booked between the third quarter of 2015 and the fourth quarter of 2016, Under Armour said, and were delivered to executive chairman Kevin Plan and chief financial officer David Bergman.

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