Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 14, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises adidas AG (OTC: ADDYY, ADDDF) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. adidas investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, 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 ended its business partnership with Kanye West on October 25, 2022, due to his anti-Semitic rhetoric. A Wall Street Journal article published on November 27, 2022, revealed that Adidas executives discussed ending the partnership as early as 2018 due to concerns about West's behavior. The article reported that West made anti-Semitic comments in front of Adidas staff and discussed naming an album after Adolf Hitler. On February 9, 2023, Adidas announced that the decision to end the partnership would result in significant financial losses, including lower revenues by around €1.2 billion and operating profit by around €500 million in 2023. Adidas also anticipates one-off costs of up to €200 million in 2023. The negative impact on Adidas's finances caused a fall in the price of Adidas securities, harming investors.
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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
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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