Under Armour Inc shareholders may pursue a lawsuit accusing the sports apparel company of concealing how it pulled sales forward from future quarters to meet Wall Street revenue forecasts, the subject of a recent regulatory settlement, a federal judge ruled on Tuesday.
Under Armour shareholders can sue over sales disclosures -judge
By Jonathan Stempel
Reuters
(Reuters) - Under Armour Inc shareholders may pursue a lawsuit accusing the sports apparel company of concealing how it pulled sales forward from future quarters to meet Wall Street revenue forecasts, the subject of a recent regulatory settlement, a federal judge ruled on Tuesday.
U.S. District Judge Richard Bennett in Baltimore said the shareholders securities fraud claims were plausible, after taking into account Under Armour s $9 million civil settlement on May 3 with the Securities and Exchange Commission.
The SEC had found that the Baltimore-based company misled investors by not disclosing that significant portions of its revenue and revenue growth resulted from its having accelerated sales orders over six quarters in 2015 and 2016.
By Syndicated Content
By Jonathan Stempel
(Reuters) â Under Armour Inc shareholders may pursue a lawsuit accusing the sports apparel company of concealing how it pulled sales forward from future quarters to meet Wall Street revenue forecasts, the subject of a recent regulatory settlement, a federal judge ruled on Tuesday.
U.S. District Judge Richard Bennett in Baltimore said the shareholdersâ securities fraud claims were âplausible,â after taking into account Under Armourâs $9 million civil settlement on May 3 with the Securities and Exchange Commission.
The SEC had found that the Baltimore-based company misled investors by not disclosing that significant portions of its revenue and revenue growth resulted from its having accelerated sales orders over six quarters in 2015 and 2016.
Ghosn was retention risk, Nissan s Kelly says at trial
Ghosn was retention risk, Nissan s Kelly says at trial
The former director was concerned that Ghosn s compensation was too far below international norms
Bloomberg
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Greg Kelly, Nissan s former representative director, arriving for the first trial hearing at the Tokyo District Court.
Former Nissan Director Greg Kelly testified in court in Tokyo for the first time, saying he considered Carlos Ghosn a flight risk after the ex-chairman voluntarily reduced his own pay, and that he looked for legal ways to keep him at the automaker.
“I and other executives believed that after Mr. Ghosn reduced his salary, well below that of other global executives, that Mr. Ghosn was a retention risk,” Kelly said in response to questions by his defense counsel. He denied that there was a conspiracy to inflate the executive’s pay.