Under Armour to pay US$9 million to settle charges of revenue misdirection


American athletic apparel company Under Armour yesterday agreed to pay US$9 million to settle charges by US financial regulators that it misled investors about its revenues. – AFP pic, May 4, 2021.

AMERICAN athletic apparel company Under Armour yesterday agreed to pay US$9 million (RM37 million) to settle charges by US financial regulators that it misled investors about its revenues.

The Securities and Exchange Commission (SEC) said that for six quarters from the third quarter of 2015 through 2016, Under Armour inflated sales to meet analysts’ expectations.


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