Nike, Ex-CEO Must Litigate Innovation Pipeline Investor Row (2)

Nike Inc. and former CEO John Joseph Donahoe II must defend against an investor allegation tied to a September 2023 statement that the athletic apparel giant’s “innovation pipeline” was strong.

Donahoe’s April 2024 statement that Nike had been focusing on rebuilding its pipeline over the last year bolstered the investors’ pleading that Donahoe knew the September 2023 strong pipeline statement was false when he made it, helping them adequately allege the level intent or recklessness for securities fraud claims, Judge Adrienne Nelson said Tuesday. In a July 2024 statement, Donahoe said Nike had been “kick-starting a multi-year innovation cycle” over ...