Investors claim sportswear giant failed to minimise their exposure to risk after the rapper and designer’s antisemitic comments led to a sharp decline in the share price
Adidas shareholders have filed a class action lawsuit against the sportswear brand, claiming it knew about Kanye West’s problematic behaviour years before it ended their partnership over his antisemitic comments.
The shareholders also allege that Adidas failed to mitigate their financial losses or take precautionary measures to minimise their exposure, after the designer and rapper’s erratic behaviour and offensive comments saw him and his Yeezy brand dropped by Adidas, which resulted in a sharp decline in the company’s stock.
