the U.s. regulators have opened an investigation into possible accounting fraud at sportartikelenmaker Under Armour. According to the business newspaper, The Wall Street Journal, the company would be certain to convert it to other quarters, and have moved, so as to drive more sales to report.

Under Armour is denying that errors have been made. However, the company’s in the Us beurstoezichthouder Securities & Exchange Commission (SEC) and the department of Justice, of the company, take a look at it. From 2017 gives Under Armour the documents to the federal authorities in connection with the books of account.

“We are working in conjunction with the two investigations, we believe that our accounting and disclosure thereof are adequate, were,” a spokesman said. Most recently, it announced that founder, Kevin Plank, after 23 years, leaving as the ceo of Under Armour on. He will be succeeded by Patrik Frisk. Plank continues to be the president of Under Armour. He founded Under Armour, 24 years ago, and at the same time he is the game of football, played at the University of Maryland. The company has grown over the years and quickly went up in 2005 on the stock market.

over The past few years, it was at the Under Armour event of a turmoil at the very top. Thus, destroying the company in the period of 2016-2017 in a total of three financial executives. The company experiences a further, strong competition from big companies such as Nike, Adidas, and Lululemon, particularly in its American home market.