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 $100,000 in investigative costs.
Michele Schneider, Partner and Director of Trading Research & Education at MarketGauge, talks about the challenges the Fed has in avoiding rising inflation and how the commodity shock is impacting long-term growth.
Craig Erlam, Senior Market Analyst at OANDA, breaks down the geopolitical risks impacting U.S. investors and how one can position their portfolio in a down-trending market.
Catching you up on what you need to know Mar 24, 2022, with NATO meeting updates, Ukraine retaking suburbs around Kyiv, the spread of omicron subvariant BA.2 in China, Google Pay launching a third-party billing option, and a 16-year-old is suspected of being the Lapsus$ mastermind behind hacks of Microsoft and others.
With ongoing supply chain issues and war in Ukraine, inflation is likely here to stay. This is the first time many younger people will experience consistent inflation as working adults, so this video breaks it down using candy (for fun!).
Uber has reached a deal to include New York City taxi cabs on its app, a move that will help to boost driver availability for passengers and open up a new set of customers for cab drivers.
The number of Americans applying for unemployment benefits last week fell to its lowest level in 52 years as the U.S. job market continues to show strength in the midst of rising costs and an ongoing virus pandemic.
The New York state comptroller says soaring profits on Wall Street helped drive up the average bonus paid to employees in New York City’s securities industry to a record $257,500 last year.
Computer-sharing network Salad is announcing a $17 million Series A round. Salad offers an open-source desktop application that invites gamers to share storage, bandwidth, and other resources from their idle PCs in exchange for rewards. Salad says users have earned what is equivalent to more than $5 million in rewards, and that its platform has quickly become the world's most distributed super-computer. Bob Miles, founder and CEO of Salad, joins Cheddar News' Closing Bell to discuss.
