Nike (NKE +0.1%) sues Adidas'(ADDYY.PK) Reebok unit over allegations that the firm violated...

|About: Nike Inc. (NKE)|By:, SA News Editor

Nike (NKE +0.1%) sues Adidas'(ADDYY.PK) Reebok unit over allegations that the firm violated unfair competition laws by introducing new products bearing New York Jets football player Tim Tebow's name. The legal action comes on the heels of Nike replacing Reebok as the league's official apparel outfitter.