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.
Amid a spate of Big Tech earnings reports on the horizon, social media giant Twitter accepted Elon Musk’s $44 billion offer to buy the platform. Musk has already signaled his intention to take the company private, and Angelo Zino, a senior equity analyst for CFRA, joined Cheddar News to talk about tech-related business news and what taking Twitter private could mean for the company. "His kind of vision is clearly on softening his stance on content moderation. You're going to see him do it, and we'll kind of see what else he has in store in terms of the pipeline of enhancing the product out there," Zino said about Musk's plans. "But there's a lot more he can do as a private company than he can do as a public company."
As Bitcoin's price continues to dance around the $40,000 mark (in real-time), Jimmy Nguyen, President and Co-Founder of the Bitcoin Association for BSV, joins Cheddar News' Closing Bell, where he discusses the recent volatility that has dragged Bitcoin's price down from its all-time high of roughly $69,000 in November.
Data from a Slack Future Forum survey shows employees returning full-time to the office are not thrilled with their experience. Sheela Subramanian, vice [resident of the Future Forum, joined Cheddar News to talk about how worker satisfaction is worsening in returning to the office compared to those workers with flexible schedules. "Employers need to actually empower their teams to create team level agreements and also skill their managers to better lead distributed teams because everybody's work is different," Subramanian noted.
Geetu Sharma, Founder and Investment Manager at AlphasFuture, reacts to a wild day on Wall Street and outlines her expectations ahead of a very busy week of earnings.
UPSIDE foods, a company that makes cultivated meat products, recently raised $400 million in a Series C round.
UPSIDE says it's developing a way to grow real meat, poultry, and seafood, without the need to raise animals for human consumption. It's a process that gets the attention of some big-name backers, including Bill Gates and Richard Branson. Dr. Uma Valeti, Founder and CEO of UPSIDE Foods, joins Cheddar News' Closing Bell to discuss.
Once called the rent-forever generation, Millennials are bucking the trend. But just as they age into their prime home-buying years, they’ve run up against a red hot housing market exacerbated by the coronavirus pandemic. Cheddar News senior Reporter Chloe Aiello went to Hudson, N.Y., to learn more.
A New York judge has found former President Donald Trump in contempt of court for failing to adequately respond to a subpoena issued by the state’s attorney general as part of a civil investigation into his business dealings.
