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adidas AG

Securities Class Action

  • Date:
  • 5/2/2023
  • Company Name:
  • adidas AG
  • Stock Symbol:
  • ADDYY
  • Class Period:
  • FROM 5/3/2018 TO 2/21/2023
  • Status:
  • Filed
  • Filing Date:
  • 4/28/2023
  • Court:
  • U.S. District Court: Oregon

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against adidas AG (“adidas” or the “Company”) (OTC: ADDYY) in the United States District Court for the District of Oregon on behalf of all persons and entities who purchased or otherwise acquired adidas securities between May 3, 2018 and February 21, 2023, both dates inclusive (the “Class Period”). Investors have until June 27, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

During the class period, defendants made materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company's business, operations and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or 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.

If you purchased or otherwise acquired adidas shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in adidas AG. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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