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Ruhles of the Game

A recent shareholder lawsuit against Under Armour, which calls into question an on-air report by former Bloomberg and current MSNBC star Stephanie Ruhle, reveals the complexity and nuance of how some financial journalism is produced.

Stephanie Ruhle’s swift ascent in journalism owed, in large part, to her years in the trenches on Wall Street, genuine financial acuity, and rolodex.
Stephanie Ruhle’s swift ascent in journalism owed, in large part, to her years in the trenches on Wall Street, genuine financial acuity, and rolodex. Photo: Riccardo Savi/Getty Images
Eriq Gardner
August 28, 2023

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Back in 2019, lawyers leading a shareholder suit against Under Armour, the sports apparel company, stumbled across a Wall Street Journal story with the unusually provocative headline: Meet Under Armour CEO’s Unusual Adviser: An MSNBC Anchor. Kevin Plank, the executive in question, had been accused by shareholders of committing securities fraud by misrepresenting consumer demand for the company’s sportswear between 2015 and 2019. During this time, the Journal reported, Plank was occasionally accompanied on a corporate jet by Bloomberg anchor-turned-MSNBC host Stephanie Ruhle, who offered informal business and media counsel. Ruhle also reported on the company from time to time.