24 April 2024: Under Armour and Columbia ‘forced labour’ investigation launched by US
Under Armour has continued to buy vast quantities of clothes from Needle Craft despite the suicide reports and serious concerns about forced labour, which CBP defines as “work performed involuntarily and under menace of penalty”.
The sportswear giants Under Armour and Columbia have been hit by claims of forced labour in a factory making their clothes, after systemic abuse and exploitation allegedly led to a worker’s death by suicide, i can exclusively reveal.
In April 2024, US sportswear companies Under Armour and Columbia were linked to reports of forced labour in a factory making their clothes, after systemic abuse and exploitation allegedly led to a worker’s death by suicide.
Labor & working conditionsConfirmedAgainst
Kevin Plank announces $130 million restructuring and layoffs
Kevin Plank's Under Armour announces a $130 million restructuring plan involving layoffs.
At the same time, other companies like Skechers, Under Armour, Nordstrom and Crocs have announced expansions of their existing benefits to include travel reimbursement expenses for employees who need to travel out of state to receive an abortion.
Like Target, companies like Skechers, Under Armour, Nordstrom and Crocs announced expansions of their existing benefits to include travel reimbursement expenses for employees who need to travel out of state to receive an abortion.
Corporate conductSettlementAgainst
Under Armour agreed to pay $9 million to settle SEC charges that it misled investors about revenue growth
sports apparel maker Under Armour has agreed to pay $9 million to settle Securities and Exchange Commission (SEC) charges that it misled investors about its revenue growth, the agency said on Monday.
NEW YORK (AP) — Sportswear company Under Armour has settled with the Securities and Exchange Commission and agreed to pay $9 million in fines related to misleading its revenue growth to investors from the third quarter of 2015 through the fourth quarter of 2016, the agency said Monday.
Under Armour settles SEC charges for $9 million | AP News
Under Armour has agreed to cease and desist the practice, the SEC said in its filing.
Under Armour to pay $9 million to settle SEC charges
sports apparel maker Under Armour Inc has agreed to pay $9 million to settle Securities and Exchange Commission (SEC) charges that it misled investors about its revenue growth, the agency said on Monday.
FILE PHOTO: Customers exit an Under Armour store in New York · Reuters
Under Armour to pay $9 million to settle SEC charges
WASHINGTON, May 3 (Reuters) - Sports apparel maker Under Armour Inc has agreed to pay $9 million to settle U.S. Securities and Exchange Commission charges that it misled investors about its revenue growth, the SEC said on Monday.
It’s possible that the SEC chose to file an administrative case rather than filing a lawsuit in federal court because of a lack of evidence that Under Armour failed to follow general accounting principles, said Eric Beste, a former prosecutor with the Department of Justice who worked with the SEC on accounting and fraud cases.
“When public companies describe how they achieved financial results, they must not misstate any information that is material to investors,” said Kurt Gottschall, director of the SEC’s Denver regional office, in Monday’s announcement. “Under Armour created a misleading picture of the drivers of its financial results and concealed known uncertainties concerning its business.”
“Under Armour created a misleading picture of the drivers of its financial results and concealed known uncertainties concerning its business.”
Under Armour agrees to pay $9 million to settle SEC probe into accounting practices – Baltimore Sun
NEW YORK (AP) — Sportswear company Under Armour has settled with the Securities and Exchange Commission and agreed to pay $9 million in fines related to misleading its revenue growth to investors from the third quarter of 2015 through the fourth quarter of 2016, the agency said Monday.
Under Armour Settles SEC Charges For $9 Million
Under Armour Settles SEC Charges For $9 Million - CBS Baltimore
Under Armour has agreed to cease and desist the practice, the SEC said in its filing.
U.S. sports apparel maker Under Armour has agreed to pay $9 million to settle Securities and Exchange Commission (SEC) charges that it misled investors about its revenue growth, the agency said on Monday.
Under Armour to pay $9 million to settle SEC charges
sports apparel maker Under Armour has agreed to pay $9 million to settle Securities and Exchange Commission (SEC) charges that it misled investors about its revenue growth, the agency said on Monday.
As a result of the conduct described above, Under Armour violated Section 17(a)(2) and (3) of the Securities Act, which prohibit any person from directly or indirectly obtaining money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, or engaging in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser, in the offer or sale of securities.
Under Armour on Sunday said the US Securities and Exchange Commission and the US Department of Justice had been investigating its accounting practices since 2017.
The sportswear brand Under Armour has announced that it has been under investigation by the US Securities and Exchange Commission and the US Department of Justice.
Under Armour said the U.S. Securities and Exchange Commission and the U.S. Department of Justice had been investigating its accounting practices since 2017.
BALTIMORE, May 3, 2021 – Under Armour, Inc. (NYSE: UA, UAA) (the “Company”) today announced that it has entered into a settlement with the U.S. Securities and Exchange Commission (the “SEC”), resolving a previously announced investigation related to disclosure and the impact of certain “pull forward” sales for the third quarter of 2015 through the fourth quarter of 2016.
UNDER ARMOUR ANNOUNCES SETTLEMENT OF PREVIOUSLY DISCLOSED SECURITIES AND EXCHANGE COMMISSION MATTER
As a result of the conduct described above, Under Armour violated Section 17(a)(2) and (3) of the Securities Act, which prohibit any person from directly or indirectly obtaining money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, or engaging in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser, in the offer or sale of securities.
Without admitting or denying the findings in the SEC's order, Under Armour agreed to cease and desist from further violations and to pay a $9 million penalty.
Under Armour has agreed to pay $9 million to settle the action.
Corporate conductAllegationAgainst
Under Armour accused of false FDA claims in ads
Under Armour is accused of advertising Ce lliant-infused products with false FDA-related language, while similar Redwave-infused product pages contained no such claims.
At root of the relevant portion of its Lanham Act claim, MET alleges that Under Armour advertised Ce lliant-infused products with false FDA -related language, where similar webpages selling Redwave- infused products contained no such language.
Corporate conductAllegationAgainst
Under Armour is accused of pulling forward sales to boost revenue
Under Armour is accused of pulling forward sales from future quarters to artificially boost revenue and meet aggressive sales goals.
The legal action alleges Under Armour's "concealed" practices included pulling forward sales from future quarters to artificially boost revenue and hit aggressive sales goals.
Corporate conductConfirmedAgainst
Under Armour created a misleading picture of financial drivers
Under Armour created a misleading picture of the drivers of its financial results and concealed known uncertainties concerning its business.
“Under Armour created a misleading picture of the drivers of its financial results and concealed known uncertainties concerning its business,” SEC Denver Regional Director Kurt Gottschall said in a statement.
Labor & working conditionsConfirmedIn favor
Under Armour boosts hourly worker pay
Under Armour is boosting the pay of its hourly employees.
Under Armour Inc. is boosting hourly wages to better attract and keep the employees it needs to expand its online business. The sportswear retailer said it’s raising the minimum wage for all U.S. employees to $15 an hour starting June 6 -- an increase of as much as 50% for some staff.
Under Armour currently has more than 3,000 open roles in retail locations and distribution houses, some of which are seasonal and include sales teammates, store managers and stock teammates, all of which will start at a minimum of $15 per hour June 6.
"At Under Armour, direct-to-consumer is one of our biggest growth opportunities," said Stephanie Pugliese, president of the Americas at Under Armour.
Under Armour is boosting the pay of its hourly employees.
ManufacturingConfirmedYou decide
Under Armour cuts ribbon for U.S. manufacturing facility
Under Armour cut the ribbon for The Lighthouse, a new manufacturing, design, and innovation facility in south Baltimore, expanding its U.S. manufacturing presence.
Baltimore-based Under Armour has big plans in the works to bring manufacturing back to the U.S. Company officials said the initiative starts with a gigantic, new facility unveiled Tuesday morning in south Baltimore. The company cut the ribbon Tuesday morning for The Lighthouse, which expands the company's footprint in south Baltimore with a new center for manufacturing, design and innovation.
Corporate conductRecallAgainst
Under Armour recalls infant jersey kits
Under Armour recalled infant sports jersey kits due to laceration and choking hazards.
Under Armour Retail Inc. artificially depressed its employees' overtime earnings and refused to compensate them for untaken meal and rest breaks, a worker alleged in a new lawsuit filed in California...
Corporate conductAllegationAgainst
Under Armour is accused of false advertising
Under Armour is accused of false advertising related to fake discounts.
Clothing and fitness data company Under Armour said it is investigating claims of a data breach after a cybercriminal posted millions of customer records to a hacker forum.
BEIJING, CHINA - JANUARY 09: A pedestrian walks past an Under Armour store on January 9, 2023 in Beijing, China.
Under Armour says it’s ‘aware’ of data breach claims after 72M customer records were posted online
Corporate conductConfirmedAgainst
Under Armour accounts under federal investigation
Under Armour confirmed its accounts are being investigated by US federal authorities.
At a time when even a perceived relationship with Donald Trump can swiftly become a PR nightmare for a brand, Under Armour's CEO Kevin Plank has decided to endorse the President outright.
Corporate conductSettlementAgainst
Under Armour settles consumer-protection violations with $2,000 civil penalty
Under Armour settles consumer-protection violations by paying $2,000 civil penalty as a civil penalty under Health & Safety Code § 25249.7(b).
PENALTIES PURSUANT TO HEALTH & SAFETY CODE § 25249.7(b) In settlement of all the claims referred to in this Settlement Agreement, Under Armour shall pay two thousand dollars ($2,000.00) as a Civil Penalty in accordance with this Section.
This Settlement Agreement is a full, final and binding resolution between Espinoza, acting on his own behalf, and Under Armour, of any violation of Proposition 65 that was or could have been asserted by Espinoza or on behalf of his past and current agents, representatives, attorneys, successors, and/or assigns (“Releasors") for failure to provide warnings for alleged exposures to chromium (VI) contained in the Products, and Releasors hereby release any such claims against Under Armour and discharges Under Armour, its equity holders, parents, affiliates, subsidiaries, wholesalers, retailers (including, but not limited to Golf Galaxy, LLC and Dick's Sporting Goods, Inc.,) franchisees or dealers, and each and all of their past, present or future shareholders, members, directors, officers, consultants, affiliated entities or corporations, subsidiaries, divisions, franchisees, partners, joint venturers, investors, creditors, insurers, attorneys, employees, representatives, successors, predecessors, licensors, licensees, customers, agents, managers, heirs, executors, and assigns of any 6
Corporate conductSettlementAgainst
Under Armour submits settlement to SEC
Under Armour submitted an Offer of Settlement, which the SEC accepted.
It read, in part: "I strongly disagree with Kevin Plank's recent comments in support of Trump… I have spoken at length with Kevin privately about the matter, but as someone who takes my responsibility as a role model very seriously, it is important to me that he, and UA, take public action to clearly communicate and reflect our common values."
Earlier this week, Kevin Plank, the CEO of Baltimore-based apparel company Under Armour, bound himself at the hip to President Trump, endorsing him outright and bestowing praise towards the business mogul.
Under Armour CEO Kevin Plank Publicly Endorses Trump | Advocate.com
Under Armour CEO Kevin Plank Publicly Endorses Trump Which brands will side with Trump, and which will defy him? Amidst an egregious travel ban on seven countries of primarily Muslim faith, unequipped cabinet member confirmations, and a divided country bordering on something found in a fictional dystopian society, it makes sense that people want to distance themselves from the Trump administration. Even more so with a political environnment where an endorsement of the unpopular 45th president can result in an endless cycle of nightmarish repercussions, ultimately placing company branding in turmoil.
Under Armour CEO Kevin Plank Publicly Endorses Trump
Earlier this week, Kevin Plank, who is also Under Armour’s founder, offered some praise for President Donald Trump when asked about his impression of the new commander in chief after taking part in a White House meeting with other business leaders.
Under Armour founder Kevin Plank used his hometown paper, the Baltimore Sun, on Wednesday to personally address the controversy that has surrounded him since his remarks last week that called President Trump's pro-business bent "a real asset for the country."