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US court indicts Michael Avenatti in Nike extortion case

A U.S. federal court in New York has indicted controversial lawyer Michael Avenatti over his alleged extortion attempt against Nike Inc.

In March, Avenatti was arrested and charged when he allegedly attempted to extort more than $20 million from the Oregon-based athletic-wear giant in order to keep him from exposing damning information about the company.

Avenatti is charged with four counts related to extortion.

Nike did not immediately respond to a request for comment from S&P Global Market Intelligence.