Kanye West Won't Be Charged in Battery Investigation for Throwing Photog's Phone

Adidas to Sell Yeezy Shoes and Donate Proceeds

Adidas to Sell Yeezy Shoes , and Donate Proceeds. CEO Bjorn Gulden made the announcement at a shareholder meeting on May 11, 'The Washington Post' reports. . Adidas had previously considered destroying the merchandise after cutting ties with Kanye West over his antisemitic remarks. . Adidas had previously considered destroying the merchandise after cutting ties with Kanye West over his antisemitic remarks. . The company also considered rebranding or liquidating the merchandise. Ultimately, they settled on donating the proceeds. Burning is not the solution, Bjorn Gulden, Adidas CEO, via shareholder meeting. What we are trying to do over time is to sell parts of these goods and then donate to organizations that help us and that also have been hurt by Kanye’s statements, Bjorn Gulden, Adidas CEO, via shareholder meeting. Analysts estimate that the unsold stock is worth about $500 million. It's not clear if part or all of the proceeds will be donated. . Adidas shares rose 2% after the announcement. However, the company is also facing a lawsuit from investors who allege Adidas knew about West's behavior years before ending their partnership and failed to act sooner

Yeezy Shoes Are Still Piled Up in Warehouses After Adidas Split With Ye

Yeezy Shoes Are Still Piled Up in Warehouses , After Adidas Split With Ye. Adidas ended its partnership with Kanye West over his antisemitic comments almost seven months ago. Associated Press reports that Adidas still has $1.3 billion worth of unsold Yeezy shoes. . On May 5, CEO Bjorn Gulden said the company is "getting closer and closer to making a decision" about what to do with the shoes. Gulden also revealed the company had lost $441 million in sales at the beginning of 2023. However, there are "so many interested parties" and "options are narrowing" when it comes to the Yeezy shoes, Gulden said. . Previously, Gulden said selling them would mean Ye would receive royalties, restitching them would be dishonest, and providing them to people in need could lead to them being resold. Adidas faces another issue involving its ties to Ye, AP reports. Investors recently filed a lawsuit claiming that Adidas knew about Ye's offensive behavior years before ending their partnership and failed to take appropriate action to reduce financial losses. Adidas denies "these unfounded claims and will take all necessary measures to vigorously defend ourselves against them."

Adidas Shareholders Initiate Class Action Lawsuit Related to Kanye West

Adidas Shareholders , Initiate Class Action Lawsuit , Related to Kanye West. Adidas Shareholders , Initiate Class Action Lawsuit , Related to Kanye West. The lawsuit claims that Adidas leadership was aware of the potential for brand harm due to Kanye West's volatile "personal behavior" ... ... but did not sufficiently warn investors. A spokesperson for Adidas denied the accusations via a press statement. We outright reject these unfounded claims and will take all necessary measures to vigorously defend ourselves against them, Statement, Adidas Spokesperson, via NBC News. The shareholder lawsuit describes the immense popularity of the Yeezy brand. The Yeezy shoes were extremely popular. By 2019, sales of Yeezy shoes hit over $1 billion. , Adidas Shareholder Lawsuit, via NBC News. Further, Kanye West accumulated significant wealth as a result of the Partnership. , Adidas Shareholder Lawsuit, via NBC News. By September 2019, Forbes ranked him as the Number 1 highest-paid hip-hop star, largely as a result of the Partnership, Adidas Shareholder Lawsuit, via NBC News. The shareholders contend that by not warning them as to the nature of West's mental health, . ... Adidas' leadership "intended to deceive" investors or "acted with reckless disregard for the truth.". The lawsuit cites public statements made by Adidas CEO Kasper Rorsted that seem to disregard the potential for major controversy. Rorsted also stated that West and the Yeezy footwear brand are a 'very important part of our brand from a revenue standpoint and how we promote our products.', Adidas Shareholder Lawsuit, via NBC News. [Adidas] ignored serious issues affecting the Partnership [with Ye] and the resulting potential risk to shareholders, Adidas Shareholder Lawsuit, via NBC News. The lawsuit goes on to cite how annual reports from 2019 through 2021 "otherwise failed to mention risks relating to the Partnership."

Adele Will Be James Corden’s Final ‘Carpool Karaoke’ Guest

Adele Will Be James Corden’s , Final ‘Carpool Karaoke’ Guest. CBS made the announcement on April 24. During their second ‘Carpool’ together – and Corden’s last one as host of 'The Late Late Show' – Adele surprises her longtime friend at home in the morning, waking him up and offering to drive the late-night host to work. , CBS, via statement. Once in the car, Adele then turns the tables on Corden, asking him about past 'Carpools,' pivotal moments in their friendship (including the time he tried, unsuccessfully, to prank her), , CBS, via statement. ... and even a song she wrote that was inspired by an emotional conversation they shared, CBS, via statement. Adele last appeared on 'Carpool Karaoke' seven years ago. The episode, which featured the singer rapping Nicki Minaj's part in Kanye West's "Monster," went viral. CNN reports that Corden announced last year that he would be leaving 'The Late Late Show.'. When I started this journey, it was always going to be just that. It was going to be a journey, an adventure. I never saw it as my final destination. , James Corden, via April 2022 statement. I never want this show to overstay its welcome in any way. I always want to love making it. And I really think in a year from now, that will be a good time to move on and see what else might be out there, James Corden, via April 2022 statement. Corden has hosted 'The Late Late Show' for eight seasons