Adidas is withdrawing its challenge to a Black Lives Matter trademark application featuring three parallel stripes, two days after it contested the image with the U.S. Trademark Office.
Adidas submitted a notice of opposition with the office Monday, saying in the filing that it took issue with Black Lives Matter Global Network Foundation's application to trademark the use of three parallel yellow stripes on various items such as clothing and bags.
The company said that it felt that if Black Lives Matter was allowed to use the stripes, it would be “confusingly similar” to its usage of a three-stripe mark, something it had been using on its own merchandise since at least 1952.
By Wednesday, Adidas said it had changed its mind.
“Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” the German athletic gear company said in a prepared statement.
It did not provide any further details as to why it was withdrawing the application.
Adidas has vociferously protected its triple-stripe trademark for years. In January fashion designer Thom Browne emerged from a New York courthouse victorious over Adidas in a battle over signature stripes. In that case, Adidas had similarly argued that the striped designs used by Thom Browne Inc. were too similar to its own three stripes. The Manhattan federal court jury sided with Browne.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
The House Select Committee investigating the Jan. 6 riots on Capitol Hill held its first primetime hearing on Thursday. Cheddar News speaks with legal analyst Tracy Pearson, who breaks down the biggest takeaways.
Fuel and oil prices have risen almost 17 percent since May, making the national gas prices reach nearly $5 a gallon. Andrew Lipow from consulting firm Lipow Oil Associates joined Cheddar News to discuss the future of gas prices. "The biggest issue on the oil market is really events that are beyond our control, which is what is happening over in Europe," he said, regarding the ongoing Russia Ukraine war. Lipow also said he predicted gas prices to hit $5.05 and that he's focused on the Biden administration's overtures in repairing a relationship with Saudi Arabia.
March For Our Lives will be returning this weekend to Washington, DC, in the wake of the recent mass shooting seen throughout the country. Marchers include Yolanda Renee King, the only granddaughter of Martin Luther King Jr. She joined Cheddar News to discuss the importance of the march and activism in general. "I just think that it's so important to have these rallies because we need to demand to our leaders and politicians that they pass legislation and that and we actually need to see action," she said.
Erika Alexander and Whitney Dow, directors of 'The Big Payback,' join Cheddar News to discuss their new film, 'The Big Payback.' It premieres Saturday, June 11 at the Tribeca Festival.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
The House select committee investigating the January 6th riots on Capitol Hill is opening its landmark series of public hearings. Cheddar News speaks with Mike Sozan, senior fellow at the Center for American Progress who explains how to follow the hearings and what to expect.
Claudia Rosenbaum, freelance reporter for Vanity Fair, joins Cheddar Politics to discuss the race for Los Angeles mayor.
Rick Caruso, a billionaire real estate developer, forced a runoff with the longtime Democratic Rep. Karen Bass, who had been the favorite in the race until an ad blitz from Caruso leaning on the city's issues with crime and homelessness.
