LOS ANGELES, July 27, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Under Armour, Inc. (NYSE: UA, UAA) investors to contact the firm to learn more about ways investors can protect their investment amidst allegations that Under Armour executives used “pull forward” sales to boost sales figures during certain quarters to meet sales objectives.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join a potential lawsuit via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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[.]"
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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