Investors sue Adidas over Kanye West partnership, fallout

Adidas is facing a class-action lawsuit from investors that was filed Friday, April 28, 2023, alleging the company knew about offensive remarks and harmful behavior from Ye years before ending its partnership with him. (AP Photo/Ashley Landis, File)Adidas is facing a class-action lawsuit from investors who allege the company knew about offensive remarks and harmful behavior from Ye, the rapper formerly known as Kanye West, years before ending its partnership with him. The lawsuit — which represents people who bought Adidas securities between May 3, 2018, and February 21, 2023 — also alleges that Adidas failed to take precautionary measures to limit financial losses if the Ye partnership were to end. The complaint also points to annual company reports from 2018 through 2021 which, the suit says, failed to disclose risks related to Adidas’ partnership with Ye. Since cutting ties with Ye, Adidas has lost hundreds of millions of dollars.