Performance Sports Group faces Canadian, U.S. regulatory probe

Wed Aug 17, 2016 6:53am EDT
 
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Aug 17 (Reuters) - Canada's Performance Sports Group Ltd said on Wednesday it was facing an investigation by U.S. and Canadian securities regulator, two days after the sports equipment maker said it was conducting an internal probe into its financials.

The company, formerly known as Bauer Performance Sports, said in a filing that it was subject to inquiries by the U.S. Securities and Exchange Commission as well as the Canadian securities regulator.

Performance Sports Group lost more than half of its market value on Monday after the company said it could default on its debt due to a delay in filing its annual report as a result of its internal investigation. The annual report was due Monday. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Savio D'Souza)