Strome Business Minute With Dr. Jeff Tanner

Baltimore-based Under Armour is under investigation for possibly shifting sales from one quarter to another in order to create an appearance of better results. The investigation began two years ago shortly after the company first experienced major losses. As one analyst put it, the brand became just another in a sea of brands. Sales are down three percent this year and the stock fell ten percent in pre-market trading on this news. Founder and CEO, Kevin Plank, will step down January first and be replaced by Patrick Frisk, currently the company’s chief operating officer. While the replacement of Plank is probably more about getting the company turned around than the investigation, as one Bloomberg analyst said, where there’s smoke, there’s usually fire.