A shareholder lawsuit filed in 2017 alleging Baltimore-based Under Armour artificially inflated its share prices causing losses for its shareholders, “has brought additional insight into the close, complicated relationship’ between TV anchor Stephanie Ruhle and former Under Armour CEO/founder Kevin Plank,” reports TV Newser.
According to The Wall Street Journal, Plank, above, supplied Ruhle with a private phone, which contained a special email address from which they could communicate with each other about confidential financial information pertaining to Under Armour.
This happened, continued TV Newser, while Ruhle was employed at Bloomberg, “with the two regularly corresponding. In one instance in 2016, Plank sent Ruhle a recording of a private conversation between himself and another Under Armour executive.
“This latest revelation is coming to light as a result of portions of their depositions, which were held earlier this year, being revealed with Plank describing Ruhle as a “confidant.”’
“I would give her counsel on her career, and she would give me counsel on things I was dealing with that were either banking or media or human nature,” he said.
Ruhle was a managing director at Deutsche Bank before joining Bloomberg TV in 2011. While at Bloomberg, she interviewed Plank a number of times. She subsequently joined MSNBC and currently hosts The 11th Hour with Stephanie Ruhle on MSNBC.
Plank stepped down as Under Armour CEO in 2019. He remains the company’s executive chairman.
Photo of Plank from Wikipedia.
Photo of Ruhle from her website