According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose 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;
- 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;
- 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;
- adidas overstated the risk mitigation measures it took with regard to Yeezy shoes in the event that it terminated the Partnership;
- as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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