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.
Aurora Cannabis CEO Miguel Martin joins Cheddar News' Closing Bell to discuss the company's latest earnings results, how it will achieve positive EBITDA by 2023, and the state of the cannabis industry amid potential U.S. federal legalization.
Disney saw misses on both its top and bottom lines for its fourth quarter. The entertainment giant also fell just short of Wall Street expectations for new Disney+ subscribers. CFRA Research media and entertainment analyst Tuna Amobi joined Cheddar News' Closing Bell to break down what this means for the future of Disney.
Johnson & Johnson is the latest company to announce this week it is splitting into two companies, separating its consumer operations from its pharmaceutical and medical devices unit. Electronics firm Toshiba also made a similar announcement today, and General Electric earlier this week also said it would be spinning off its aviation, healthcare, and power businesses. What does this mean for investors - and will this become a trend among conglomerates? Barron's Senior Writer Al Root joins Cheddar News' Closing Bell to discuss why Johnson & Johnson is splitting up, what this strategy means for conglomerates, and why they might pursue a break-up.
Business is booming for the used car marketplace Shift while the automotive industry as a whole struggles with demand and supply chain issues stemming from the global semiconductor shortage. Co-CEO and co-founder George Arison joined Cheddar's "Closing Bell" to talk about the company's stellar Q3 earnings and how it was able to meet demand.
Disney+ miss on new subscribers in Q3 and the growing momentum for moviegoers returning to brick-and-mortar theaters has brought the streaming business into question. Seth Schachner, managing director at Strat Americas, joined Cheddar to discuss the state of streaming and the growing number of options consumers have. "Streaming is for sure here to stay and I think more robust than ever," he said. "The real thing that's happening, not just to Hollywood but to lots of verticals from music to sports, is just that there's tons and tons of consumer choice."
Peter Weber, author and star of ABC's The Bachelor, joined Cheddar to talk about his new children's book, "The Adventures of Pilot Pete," scheduled for release on Nov. 23. Weber, a real commercial pilot, said that while fellow Bachelor Nation contestants tend to write books following their experience on the small screen, one of the reasons he opted to write a children's book instead was the prospect of the longevity it could provide.
Dr. Wendy Osefo, Entrepreneur, Professor & Cast Member of Bravo's 'Real Housewives of Potomac', joins 'Your Future Home' to discuss her popular new Onyi Home Essentials line and how ideas of family and legacy helped shape it.