Sports Direct Must Hand Over Documents to FRC, Judge Says

U.K. billionaire Mike Ashley’s Sports Direct International Plc must hand over documents as part of an accounting regulator’s investigation into its 2016 financial results, a London judge ruled. The retailer’s shares tumbled.

The U.K.’s Financial Reporting Council is probing the conduct of audit firm Grant Thornton and one of its employees after they failed to disclose a business relationship between Mike Ashley and his brother. The regulator is running a parallel investigation into the conduct of an employee at Sports Direct or one of its units, it disclosed Sept. 11.

Sports Direct must turn over documents and emails that it ...