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.
The UK has launched the largest pilot program of a four-day workweek to research measures of productivity. The trial includes more than 3,000 workers and spans more than 70 companies. The entire project runs for six months. Odessa Jenkins, the president of the e-learning and analytics company Emtrain, joined Cheddar News to break down the logistics of the test. “We are in a time of a wellness revolution, and I think we're all looking for how to make our employees more well and more balanced," she said. "And that's really, I think, the point of this study."
The SEC is taking aim at retail investors. The financial watchdog has released a new game show-themed public service campaign to help investors make informed decisions and do their due diligence before investing, but retail traders say they feel attacked. Tyrone Ross, Founder of 401, breaks down the battle between the two groups, and what can be done to mend their relationship.
New York State passes the country's first 'right to repair' bill covering electronics. The Fair Repair Act would require all manufacturers who sell digital electronic products within state borders to make tools, parts, and instructions for repair available to both consumers and independent shops. Experts believe the new measure could have a drastic impact on the overall cost of repairing devices and products. Gay Gordon-Byrne, Executive Director of The Repair Association joins Cheddar to discuss.
Here are your Need2Know stories for Tuesday June 7, 2022:
Today, voters head to the polls for primary elections in California, Iowa, Mississippi, Montana, New Jersey, New Mexico, and South Dakota.
Senator Joe Manchin said he would support raising age requirements for gun purchases to 21. Manchin told CNN he also "wouldn't have a problem looking at" a ban on AR-15 assault rifles.
Meanwhile, five players on the Tampa Bay Rays roster opted not to wear a patch added to its uniforms intended to celebrate pride month.
Saving for retirement is more important than ever as inflation lingers, but more Americans are anxious about their ability to do so. A new survey by Schroders shows that many people say they need just over a million dollars to retire comfortably — but only about one-quarter of respondents said they were likely to meet that goal. So, what should people do to retire safely? Joel Schiffman, head of intermediary distribution for North America at Schroders, joins Closing Bell to discuss the survey results, best practices for retirement planning, why a certain percentage of Americans actually plan to work while retired, and more.
