Adidas Headquarters Raided in Years-Long Tax Investigation (2)

German authorities raided Adidas AG headquarters on Tuesday as part of a years-long tax investigation.

The probe is looking at a five-year period starting in October 2019 and pertains to customs and tax regulations for products imported into Germany, an Adidas representative said in a statement. The stock fell as much as 2.1% in early Frankfurt trading.

The sportswear company’s headquarters in Herzogenaurach and other offices were searched. Adidas said it has been in contact with customs authorities for several years about the matter and is providing them with documents and information.

Adidas headquarters in Herzogenaurach.

Photographer: Tobias Schwarz/AFP/Getty Images

The situation threatens to become another blow ...