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Under Armour settles $9 million SEC fines over misleading revenue growth

© Getty Under Armour announced Monday that it reached a settlement with the U.S. Securities and Exchange Commission to pay $9 million in fines over misleading its revenue growth to investors between 2015 and 2016. According to the SEC filing, Under Armour used the “pull forward” method to accelerate existing orders that customers requested be shipped in future quarters, in an effort to close the gap between internal forecasts and analysts’ revenue estimates. The SEC says the company pulled forward approximately $408 million in orders from the third quarter of 2015 through the fourth quarter of 2016. ADVERTISEMENT The agency noted that Under Armour would have missed analysts revenue estimates in the stated time period if it had not pulled forward orders.

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