Sports fashion giant Under Armour is reportedly under a federal criminal and civil securities-fraud probe over allegations the company’s accounting practices falsified records to make the brand’s finances look healthier.
The Wall Street Journal reported: [The Justice Department is investigating] whether the sportswear maker shifted sales from quarter to quarter to appear healthier, according to people familiar with the matter.
As part of the probe, which hasn’t been made public, investigators questioned people in Baltimore, where the company is based, as recently as last week, one of the people said.
Read the full story from WSJ here.
