{"id":127849,"date":"2023-03-26T00:13:16","date_gmt":"2023-03-26T00:13:16","guid":{"rendered":"http:\/\/pressarabia.qa\/?guid=8b9b2447f4ddd1a31ef36936384242b6"},"modified":"2023-03-26T00:13:16","modified_gmt":"2023-03-26T00:13:16","slug":"rosen-a-globally-respected-law-firm-encourages-adidas-ag-investors-to-inquire-about-securities-class-action-investigation-addyy-adddf","status":"publish","type":"post","link":"https:\/\/pressarabia.qa\/rosen-a-globally-respected-law-firm-encourages-adidas-ag-investors-to-inquire-about-securities-class-action-investigation-addyy-adddf\/","title":{"rendered":"ROSEN, A GLOBALLY RESPECTED LAW FIRM, Encourages adidas AG Investors to Inquire About Securities Class Action Investigation \u2013 ADDYY, ADDDF"},"content":{"rendered":"
\n

NEW YORK, March 25, 2023 (GLOBE NEWSWIRE) — WHY: <\/strong>Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of adidas AG (OTC: ADDYY, ADDDF) resulting from allegations that adidas may have issued materially misleading business information to the investing public.<\/p>\n

SO WHAT:<\/strong> If you purchased adidas securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.<\/p>\n

WHAT TO DO NEXT: <\/strong>To join the prospective class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=12204<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action.<\/p>\n

WHAT IS THIS ABOUT:<\/strong> On October 25, 2022, adidas ended its lucrative business partnership with Kanye West (under which it sold products designed by West under the brand name \u201cYeezy\u201d) as a result of his anti-Semitic rhetoric.<\/p>\n

On November 27, 2022, The<\/em> Wall Street Journal<\/em> published an article entitled \u201cAdidas Top Executives Discussed Risk of Staff\u2019s \u2018Direct Exposure\u2019 to Kanye West Years Ago.\u201d According to the article, as early as 2018, adidas executives discussed ending the business partnership with West as a result of his behavior. Reportedly adidas feared continuing the relationship with West, as they feared it could \u201cblow up\u201d at any moment. The article added that West made anti-Semitic statements in front of adidas staff, and that he told adidas staff that he was considering naming an album after Adolf Hitler.<\/p>\n

On February 9, 2023 adidas announced that \u201cwhile the company continues to review future options for the utilization of its Yeezy inventory, this guidance already accounts for the significant adverse impact from not selling the existing stock. This would lower revenues by around \u20ac 1.2 billion and operating profit by around \u20ac 500 million this year.\u201d Further, \u201cshould the company irrevocably decide not to repurpose any of the existing Yeezy product going forward, this would result in the write-off of the existing Yeezy inventory and would lower the company\u2019s operating profit by an additional \u20ac 500 million this year. In addition, adidas expects one-off costs of up to \u20ac 200 million in 2023. These costs are part of a strategic review the company is currently conducting aimed at reigniting profitable growth as of 2024. If all these effects were to materialize, the company would expect to report an operating loss of \u20ac 700 million in 2023.\u201d adidas\u2019 CEO stated, \u201c[t]he numbers speak for themselves. We are currently not performing the way we should[.]\u201d<\/p>\n

As a result of these adverse disclosures the price of adidas securities have fallen, damaging investors.<\/p>\n

WHY ROSEN LAW: <\/strong>We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

Follow us for updates on LinkedIn: https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

——————————–<\/p>\n

Contact Information:<\/p>\n

Laurence Rosen, Esq.
\nPhillip Kim, Esq.
\nThe Rosen Law Firm, P.A.
\n275 Madison Avenue, 40th Floor
\nNew York, NY 10016
\nTel: (212) 686-1060
\nToll Free: (866) 767-3653
\nFax: (212) 202-3827
\nlrosen@rosenlegal.com<\/a>
\npkim@rosenlegal.com<\/a>
\ncases@rosenlegal.com<\/a>
\nwww.rosenlegal.com<\/a> <\/p>\n

GlobeNewswire Distribution ID 8795244<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, March 25, 2023 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of adidas AG (OTC: ADDYY, ADDDF) resulting from allegations that adidas may have issued materially misleading business information to the investing public. SO WHAT: If you [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"\nROSEN, A GLOBALLY RESPECTED LAW FIRM, Encourages adidas AG Investors to Inquire About Securities Class Action Investigation \u2013 ADDYY, ADDDF - Press Arabia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/pressarabia.qa\/rosen-a-globally-respected-law-firm-encourages-adidas-ag-investors-to-inquire-about-securities-class-action-investigation-addyy-adddf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ROSEN, A GLOBALLY RESPECTED LAW FIRM, Encourages adidas AG Investors to Inquire About Securities Class Action Investigation \u2013 ADDYY, ADDDF - Press Arabia\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, March 25, 2023 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of adidas AG (OTC: ADDYY, ADDDF) resulting from allegations that adidas may have issued materially misleading business information to the investing public. 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