Federal Criminal Probe Launched Against Under Armour

Sportswear company Under Armour is under federal investigation for its accounting practices.

The criminal probe is focusing on allegations the company shifted sales between quarters to make the numbers look better. Under Armour, in a statement this weekend, says it's been cooperating with the Justice Department and the Securities and Exchange Commission investigations.

A statement says the company is confident its accounting practices and disclosures were appropriate. Sales for the company have been declining, with items like sweat proof shirts not being liked by customers.


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