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.
Hollow Earth Explored in New Storyboards from GODZILLA VS KONG
Further explore Hollow Earth in newly released storyboards from GODZILLA VS KONG by artist Richard Bennett!
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Synopsis:
Legends collide as mythic adversaries meet in a spectacular battle for the ages, with the fate of the world hanging in the balance. Kong and his protectors undertake a perilous journey to find his true home.
And with them is Jia, a young orphaned girl with whom he has formed a unique and powerful bond. But they unexpectedly find themselves in the path of an enraged Godzilla, cutting a swath of destruction across the globe. The epic clash between the two titans instigated by unseen forces is only the beginning of the mystery that lies deep within the core of the Earth.
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.
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