SAN DIEGO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in shares of adidas AG (OTC: ADDYY, OTC: ADDDF).
Investors, who purchased adidas AG (OTC: ADDYY, OTC: ADDDF) shares long-term and continue to hold any of those adidas AG (OTC: ADDYY, OTC: ADDDF) shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 28, 2022, a lawsuit was filed shares against adidas AG over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose, among other things, that In addition to other misconduct, Kanye West made anti-Semitic comments in front of adidas staff, and even suggested naming an album after Adolf Hitler, that adidas was aware of his behavior, and failed to warn investors that it was aware of that behavior, and had considered ending the Partnership as a result of it, that adidas failed to take meaningful precautionary measures to limit negative financial exposure if the Partnership were to end as a result of West’s behavior, that adidas overstated the risk mitigation measures it took with regard to Yeezy shoes in the event that it terminated the Partnership, and that as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
On October 17, 2023, an amended complaint was filed.
Those who adidas AG (OTC: ADDYY, OTC: ADDDF) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
