Adidas Retracts Opposition To Black Lives Matter Three-Stripe Design: Report - adidas (OTC:ADDYY)

Adidas AG ADDYY has reportedly taken back its request to the U.S. Trademark Office to reject a Black Lives Matter trademark for three parallel stripes.
The decision has been taken by concern that people might mistake the sportswear maker's trademark objection as opposition to the Black Lives Matter's mission, reported Reuters.
"Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation's trademark application as soon as possible," the report cited the company.
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Adidas had told the U.S. trademark office that the Black Lives Matter Global Network Foundation's yellow-stripe design was strikingly similar to its three-stripe mark.
It requested the office to strike down the Foundation's application to use the design on its goods.
The report noted Adidas had filed over 90 lawsuits and made more than 200 settlement agreements for its three-stripe trademark since 2008.
Price Action: ADDYY shares closed higher by 0.41% at $76.49 on Tuesday.
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