Under Armour reportedly borrowed business from future quarters in 2016 to hide slowing demand

. The two investigations were confirmed by Under Armour in early November, but the company has said that it has been cooperating with investigators since July 2017.

Under Armour said in a statement that the ongoing investigation constrains the company from addressing every allegation in the media. Under Armour's management and board of directors stand by its financial reporting, the company said. Under Armour shares were down less than 1% in premarket trading Friday. The stock has fallen 3% since the start of the year. It has a market value of $7.7 billion.We are aware of recent media coverage concerning Under Armour's business practices. As we have stated previously, we firmly believe that our disclosures and our accounting practices have been entirely appropriate.

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