Adidas sued by investors over partnership with Kanye West
DPA
Cassidy STEPHENS
Investors in the U.S. have filed a lawsuit against the sports goods manufacturer, AdidasKanye West
“We outright reject these unfounded claims and will take all necessary measures to defend ourselves vigorously against them,” Adidas announced on Tuesday.
The class action lawsuit was filed on Friday in the U.S. District Court in Oregon. The Herzogenaurach-based company as well as its former CEO Kasper Rorsted and CFO Harm Ohlmeyer are named as defendants, while an investment fund from the U.S. state of Virginia is named as the lead plaintiff.
Adidas terminated its collaboration with Kanye West in October 2022 after the rapper had repeatedly made anti-Semitic comments. The ‘Yeezy
How to proceed with the already manufactured products was still undecided. The options ranged from various sales possibilities, in which case the proceeds could be donated, to the destruction of the goods.
