In this Feb. 9, 2020, file photo, Kanye West arrives at the Vanity Fair Oscar Party in Beverly Hills, Calif. Rapper and fashion mogul Ye’s high-end clothing company Yeezy has agreed to pay $950,000 to settle a lawsuit over slow shipping to customers. (Photo by Evan Agostini/Invision/AP, File)
Rapper and fashion mogul Ye's high-end clothing company Yeezy agreed Monday to pay $950,000 to settle a lawsuit brought by four California district attorneys over slow shipping to customers.
The suit brought last month by the district attorneys of Los Angeles, Sonoma, Napa and Alameda counties alleged that Yeezy had engaged in false advertising about its shipping and had violated state law by failing to send online orders within 30 days.
He designs and sells sneakers under the Yeezy brand in collaboration with Adidas. The company also makes and sells clothes. Adidas was not named as a defendant in the lawsuit.
An email sent seeking comment from Yeezy was not immediately returned.
The settlement includes $800,000 in civil penalties to the district attorneys offices, $50,000 in restitution to a state consumer protection fund, and $100,000 in investigative costs.
Hyperfine, the pioneer of the very first FDA-approved portable MRI device, made its public debut on the Nasdaq via a SPAC merger. CEO Dave Scott joined Cheddar's "Opening Bell" to discuss the IPO launch, the company's valuation at $580 million, and the impact of its machine called Swoop. "We can roll an MRI system, our MRI Swoop system, right into the room where you are, right up to your patient bedside, and scan you right there and get an image in less than an hour," he explained.
Marvel's "Spiderman: No Way Home" is the third highest-grossing film of the year and could be the only one to reach the $1 billion mark of 2021 with ticket sales already surpassing $750 million.
The Supreme Court will hear arguments on President Joe Biden's vaccine mandates for large companies and health care workers on January 7, 2022. The mandates will remain in place until then.
AdTheorent just the latest company to go public via a SPAC. The company specializes in digital advertising, using AI and machine learning as a tool to move marketing forward. AdTheorent to close its SPAC merger with MCAP Acquisition today and will trade on the Nasdaq under the ticker symbol ADTH. CEO Jim Lawson spoke with Cheddar ahead of the move.
Although still early in development, blockchain technology, Web3, also known as Web 3.0 has been getting a lot of attention from some top tech names lately. Web3 is based on blockchain technology, which powers NFT’s and cryptocurrencies such as bitcoin. With Web3, users would ideally control their own data, rather than have it be controlled by a few large companies. But, Tesla CEO Elon musk isn't buying into Web3 just yet, tweeting over the weekend that the decentralized iteration of the internet seems more like a marketing "buzzword" right now than reality. Twitter co-founder Jack Dorsey also chiming in to the conversation, expressing doubt over whether or not Web3 would actually be decentralized if ownership still belonged to venture capital firms. Parker McCurley, co-founder & CEO of Decent Labs explains the significance of Web3 catching the eye of the tech giants, and what Web3 could mean for the future of the internet.
