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.
David Girouard, CEO of Upstart, an artificial intelligence lending platform, joined Cheddar to discuss Q3 earnings, noting growth in revenue and profits as more banks, credit unions, and car dealerships use Upstart tech. He also reflected on how his fintech company is working to help people with low credit or no credit secure access to credit and loans.
With the shortage of shipping containers and truck drivers, the global supply chain is taking a beating just ahead of the holiday season. As retailers gear up to meet higher demand, DHL Express is adding capacity, both in infrastructure and aviation. Greg Hewitt, U.S. CEO at DHL Express, joined Cheddar's Opening Bell to provide some additional details on the ramped-up investments.
Electric vehicle startup Rivian is disrupting the auto industry following its record-breaking public debut on Wednesday taking it to a higher market value than legacy automakers Ford and General Motors. Thomas Speidel, CEO at fast battery-charging firm ADS-Tech Energy, joined Cheddar to talk about what the IPO means for the broader development of electric vehicles in the U.S. He also talked about the pressure Ford faces after its gas-powered F-150 had been the best-selling vehicle in the U.S. for nearly 45 years.
Moderna is defending its COVID-19 vaccine after a study found an increase in reports of myocarditis, which is an inflammation of the heart, in males ages 12 to 29 — about 13.3 cases in every 100,000 subjects. The pharmaceutical giant said the benefits of the vaccine outweigh the risk of the possible negative side effect.
Pharmaceutical and health care giant Johnson & Johnson announced that it will split into two separate companies, setting aside the consumer division that sells Band-Aids, baby powder, and other products to stand alone.
The parent company of North Face, Vans and Supreme, VF Corp, released its fourth annual "Made for Change" sustainability and responsibility report. It details the company's ongoing efforts to tackle social and climate related issues. This comes as climate experts continue to warn about the dangers of fast fashion and its impact on global CO2 emissions. Sean Cady, Vice President of Global Sustainability, Responsibility and Trade at VF Corporation, joins Cheddar News to discuss.
A jam-packed Freitag pod with Carlo and Baker: new Covid hotspots, Kyle Rittenhouse trial, Belarus making trouble for Europe, red-hot housing market, and how to manage a PR crisis the right way.
