Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, June 22, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises adidas AG (“adidas” or the “Company”) ( ADDYY, ADDDF) investors that a lawsuit filed on behalf of investors that purchased adidas securities between May 3, 2018 and February 21, 2023, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Adidas is facing a class action lawsuit alleging that the company failed to disclose material adverse facts about the business, operations, and prospects to investors. The lawsuit stems from allegations that senior leadership discussed the risks of continuing a relationship with Kanye West as far back as 2018, and that Adidas was aware of West's misconduct, including anti-Semitic comments and the suggestion to name an album after Adolf Hitler. The complaint alleges 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 and overstated the risk mitigation measures it took with regard to Yeezy shoes in the event of terminating the partnership. The lawsuit follows a series of events, including a report in The Wall Street Journal and a sales warning from Adidas, which have negatively impacted the company's stock price.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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