Adidas ended its partnership with Ye in October following the designer's antisemitic remarks on social media and in interviews.
, Adidas executives discussed the risks of continuing its collaboration with Ye as far back as 2018.
Investors claim a 2018 annual report"ignored serious issues" with the partnership and the potential risk to shareholders by"generally alluding" to the risks"rather than stating that the company had actually considered ending the partnership as a result of West’s personal behavior." The company also failed to disclose that Ye made antisemitic remarks in front of Adidas staff, according to the lawsuit.
"We outright reject these unfounded claims and will take all necessary measures to vigorously defend ourselves against them," Claudia Lange, vice president of external communication at Adidas, said in an email Sunday. The lawsuit, which seeks to represent investors who bought Adidas securities between May 3, 2018, and Feb. 21, doesn't name Ye as a defendant. Adidas terminated the lucrative Yeezy deal last year because of Ye's antisemitic remarks, facing pressure to cut ties with the musician.
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