Newly released court documents reveal the extent of the close ties between Under Armour founder Kevin Plank and television anchor Stephanie Ruhle. Plank allegedly gave Ruhle a private phone with a special email address to communicate with him, shared confidential financial information about the sportswear company, and sought her help in addressing concerns about declining sales. The information came to light in a shareholder lawsuit against Under Armour that raised questions about a report by Ruhle during her time at Bloomberg, which accused Plank of securities fraud. The lawsuit also scrutinized their relationship, including flights on a corporate jet that triggered an internal investigation by Under Armour.

Ruhle, known for her financial acumen as a former managing director at Deutsche Bank, reportedly provided business and media advice to Plank. The court documents also revealed that Ruhle received a secret recording of a conversation between Plank and another Under Armour executive discussing financial matters. Both Plank and Ruhle acknowledged their relationship in depositions, with Plank describing Ruhle as a confidant and Ruhle stating that they were friends and that she covered Plank's company. The nature of their relationship and the potential misuse of company resources continue to be a subject of scrutiny.