Performance Sports’ stock tumbles after disclosing SEC investigation

Performance Sport Group Ltd.’s stock tumbled 6.7% in premarket trade Wednesday, after the sports equipment and apparel maker disclosed in a filing that it is the subject of inquiries by U.S. and Canada regulators. The company said the inquiries include an investigation by the Securities and Exchange Commission. Earlier this week, the company said it would miss the deadline to file its annual report, because of an internal investigation into the finalization of its financial statements, which could result in a default under its current credit facilities’ agreements. The stock had plunged 78% year to date through Tuesday, while the S&P 500 had gained 6.6%.

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