Adidas Faces Class-Action Lawsuit Due to Frayed Partnership With
[ad_1] Adidas is facing a class-action lawsuit, as shareholders are suing the shoe giant following monetary repercussions from parting ways with Kanye West.On Monday (May 1), Billboard reported a group of investors have launched litigation against Adidas in U.S. District Court in Oregon, claiming the brand was aware of Ye's volatile potential a long time before they ended their partnership with him last October over anti-Semitic rhetoric. The plaintiffs in the suit represent people who purchased stock from Adidas between May 3, 2018, and Feb. 21, 2023. The suit alleges Adidas "failed to take meaningful precautionary measures to limit negative financial exposure" knowing that Ye was a liability and things could ended badly.The suit also alleges...