Stephanie Ruhle, the cable TV anchor known for her work on Bloomberg TV and now MSNBC, recently conducted an interview with NBA star Steph Curry, sponsored by Under Armour, just weeks after she publicly supported the brand following a negative analyst report that affected its stock. This news comes to light as part of an ongoing lawsuit involving Under Armour shareholders. Court documents from a recently unsealed deposition reveal a close relationship between Under Armour CEO Kevin Plank and Ruhle. Plank referred to Ruhle as a “confidant,” providing her with a personal cell phone and secure email address for constant communication. She also accompanied Plank on multiple trips on his private jet.
In addition, the deposition disclosed that it was Plank who arranged the interview between Ruhle and Curry in February 2016. The segment, which aired on Bloomberg TV, featured a free-throw shooting contest and discussions about Curry’s NBA season and investment insights. Ruhle, who was with Bloomberg at the time but later joined MSNBC, also touched upon Curry’s association with Under Armour and the performance of his sneaker brand in China. This interview came at a crucial time for Under Armour when its stock had dropped over 8% due to sagging sales figures following the Morgan Stanley report.
Plank expressed gratitude to Ruhle for supporting Under Armour during this rough period by setting up the interview as a gesture of thanks. He hoped that other media outlets would take note of her support and show more positivity towards the brand even during challenging times. Plank rallied his employees to counter the negative report by putting media and analysts favorable to Under Armour’s cause in the spotlight and emailed Ruhle a “fact sheet” that the company wanted to circulate to the media for any discussions regarding the Morgan Stanley report.
During her show on Bloomberg, Ruhle seemed to cast doubt on the credibility of the report, mentioning that a member of the “Bloomberg Intelligence team” remained optimistic about Under Armour. She described Under Armour as a “long-term buy” and highlighted the company’s advancements in integrating technology into their products. Ruhle also applauded the brand’s endorsement deals with high-profile athletes such as Curry, Tom Brady, and Lindsey Vonn, emphasizing that Under Armour has a keen eye for picking winners.
These revelations emerge from a shareholder lawsuit against Under Armour, with plaintiffs alleging that the company artificially inflated its stock by misleading investors regarding its sales figures. The shareholders requested access to Ruhle’s emails from Bloomberg, but their request was denied by a federal judge in New York. Under Armour is adamantly contesting the lawsuit.
Overall, these recent developments shed light on the close relationship between Under Armour’s CEO Kevin Plank and Stephanie Ruhle, and raise questions about the objectivity of Ruhle’s coverage of Under Armour during a critical period for the company.
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