Court documents recently unsealed reveal that Cable TV anchor Stephanie Ruhle received a private phone and email account from Kevin Plank, the CEO of Under Armour. The documents also stated that Plank sent Ruhle a secret recording of a conversation he had with another Under Armour executive regarding the company’s finances. This latest information sheds more light on the close relationship between Ruhle and Plank, which was first reported by The Wall Street Journal in 2019. The details emerged as part of a lawsuit filed by Under Armour shareholders against Bloomberg, where Ruhle worked before joining MSNBC. During a deposition, Plank described their relationship as one where he provided counsel on Ruhle’s career, while she offered guidance on banking, media, and human nature. Ruhle confirmed that she received a separate phone from Plank and admitted to taking numerous trips with him on a private jet. According to the shareholders’ lawsuit, Ruhle was known to give Plank public relations advice while she was at Bloomberg. The close bond between the two led to speculation among Under Armour executives about a potential affair, but both Ruhle and a company spokesperson denied this, asserting that they were simply friends. The plaintiffs in the lawsuit allege that Plank and other Under Armour executives inflated the company’s share price despite knowing that sales were weaker than indicated. The case seeks to obtain Ruhle’s emails, but a federal judge denied the request, citing journalistic privilege. Under Armour has vehemently denied the claims, and in May 2021, settled with the Securities and Exchange Commission for $9 million over allegations of misleading investors about revenue growth.
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