Kevin Plank

Internal Under Armour review finds no wrongdoing by CEO Kevin Plank in Port Covington dealings

Internal Under Armour review finds no wrongdoing by CEO Kevin Plank in Port Covington dealings

Under Armour founder and CEO Kevin Plank did not enrich himself improperly and ignore shareholders’ interests by seeking through his separate real estate firm to turn Port Covington into a waterfront community anchored by a new global headquarters for the athletic apparel brand, an internal review has found.

Shareholder Scott King asked Under Armour’s board to review the purchase of parcels along the Patapsco River in South Baltimore by Plank’s private Sagamore Development Co. as early as 2012. King alleges Plank used inside knowledge about the apparel maker’s need to expand from its current Locust Point headquarters and schemed to acquire substantial land, both...

86°