Adidas AG (ADDYY; ADDDF)
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against adidas AG (“adidas” or the “Company”) (OTC: ADDYY; ADDDF) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired adidas securities between May 3, 2018 and February 21, 2023, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements as well as failed to disclose that: (1) 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; (2) 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; (3) 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; (4) adidas overstated the risk mitigation measures it took with regard to Yeezy shoes in the event that it terminated the Partnership; (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
A class action lawsuit has already been filed. You can review a copy of the Complaint or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in adidas you have until June 27, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.