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Brian L. Roberts

Under Armour stock-split plan draws criticism

Under Armour stock-split plan draws criticism

Kevin Plank's control of Under Armour has propelled the Baltimore-based brand's sales, profits and stock value for a decade at "incredible" rates.

That was Plank's message to shareholders this week as the company unveiled a plan that would preserve his personal control of Under Armour as founder and CEO. He cited the stock's roughly 2,400 percent gain since it went public nearly 10 years ago.

Plank clearly has been the driving force behind the transformation of a compression T-shirt startup into the second-biggest sports apparel brand in the United States, with more than $3 billion in global sales a year. But the plan announced Monday is raising eyebrows....