Adidas shareholders filed a class-action lawsuit against the brand, accusing it of failing to warn investors about the antisemitism and “extreme behavior” exhibited by the rapper formerly known as Kanye West, before their partnership ended last year. In the lawsuit, filed Friday in a federal court, shareholders allege that Adidas “routinely ignored” his behavior as early as 2018.
The suit covers anyone who bought an Adidas share from May 3, 2018 until 2023. “We outright reject these unfounded claims and will take all necessary measures to vigorously defend ourselves against them,” Adidas said in a comment to CNN. Adidas\n \n ended its almost decade-long partnership in October 2022 after Ye wore a “White Lives Matter” T-shirt in public. The Anti-Defamation League categorizes the phrase as a hate slogan used by White supremacist groups, including the Ku Klux Klan.