Under Armor paid $ 9 million to pay off the wrong direction of its earnings.
American sports apparel company Under Armor on สล็อตgp Monday agreed to pay $ 9 million to settle bills by U.S. financial regulators, misleading investors about its earnings.The Securities and Exchange Commission (SEC) said that in the six quarters from Q3 2015 to 2016, Under Armor had inflated sales as analysts had expected.Faced with missing those revenue targets, the company pulled $ 408 million in advance orders for future quarters, the SEC said in a statement.
Under Armor, which sponsors American footballer Tom Brady, boxer Anthony Joshua and basketball player Stephen Curry, then argues that revenue growth is ` "Factors" without telling investors about "accelerating" orders.By using a series of quarterly forward pulls to meet analysts' revenue targets, while revenue growth is another factor, Under Armor has created a misleading picture of the drivers of earnings.
Financially and conceal known uncertainty about their business, ”said Kurt Gotschall, director of Of the office A. The Denver SEC said in a statement.Under Armor said the deal helped resolve costs from the U.S. financial regulator and "the company did not admit or deny the SEC's allegations," it said in a statement.Under Armor also agrees to "non-monetary payment terms" without elaboration.