Under Armour cuts revenue forecast; federal probe weighs on shares

(Reuters) - Under Armour Inc on Monday cut its forecast for annual revenue for a second time this year, the latest sign of problems for the sportswear maker that is facing a federal probe into its accounting practices. Shares of the company closed about 19% lower after a media report that the company was being investigated for shifting sales from quarter to quarter to appear financially healthier. In a conference call with analysts, Under Armour executives defended the company's accounting practices and disclosures, and said they were cooperating with the federal investigators

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