Adidas is facing a class-action lawsuit from investors over its terminated partnership with rapper Kanye West, with shareholders claiming that the company should have been aware of West’s controversial statements.
The lawsuit, filed in the US District Court in Oregon, argues that Adidas failed to control damage linked to the deal and that executives were aware of West’s history of making controversial statements.
The German sportswear giant ended its deal with West in October 2022 after the rapper made a series of anti-Semitic outbursts. Adidas has rejected the allegations in the lawsuit and stated that it will take steps to defend itself. The lawsuit represents people who bought Adidas shares between May 3, 2018, and February 21, 2023.
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