NEW YORK, March 19, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities lawsuits on behalf of adidas AG shareholders ADDY ADDDF))) following allegations that adidas disclosed potentially materially misleading business information to the investing public.

SO WHAT: If you have purchased adidas securities, you may be entitled to compensation without paying out-of-pocket expenses or costs under a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=12204 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On October 25, 2022, adidas ended its lucrative business partnership with Kanye West (under which it sold West-designed products under the “Yeezy” brand name) as a result of its anti-Semitic rhetoric.

On 11/27/2022, The Wall Street Journal published an article entitled “Adidas Top Executives Discussed Risk of Staff’s ‘Direct Exposure’ to Kanye West Years Ago.” According to the article, adidas executives discussed ending the business partnership with West back in 2018 due to his behavior. adidas reportedly feared pursuing the relationship with West as they feared it could “explode” at any moment. The article added that West made anti-Semitic remarks in front of adidas employees and that he told adidas employees he was considering naming an album after Adolf Hitler.

On February 9, 2023, adidas announced that “while the company continues to evaluate future options for utilizing its Yeezy inventory, this guidance already accounts for the significant adverse impact of not selling the existing stock. This would reduce sales by around EUR 1.2 billion and increase operating profit by around EUR…