Under Armour settles SEC charges for $9 million

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 used a “pull forward” sales tactic to pull forward $408 million in revenue in existing orders. The SEC said the company made positive statements regarding its revenue growth rate and the factors contributing to the revenue growth rate, without disclosing the significant impact on revenue from its use of pull forward tactics.