German shoe company Adidas is being sued by shareholders with a class-action lawsuit over the fallout and losses incurred due to Kanye West’s “extreme behavior” and antisemitism.
The lawsuit claims that the German shoe giant continued to ignore the erratic behavior of the rapper since 2018 and failed to warn its shareholders. The lawsuit adds that senior executives failed to pay attention to the destabilizing and dangerous verbal outburst and “extreme behavior” of the rapper.
Adidas and Kanye entered into a partnership over the Yeezy line of shoes. Kanye’s antisemitic comments led to a sharp decline in sales of the Yeezys and shares value.
Adidas had to end its partnership with Kanye in November after he a series of antisemitic comments and actions, including publicly praising Hitler and the Nazis, and wearing Nazi logo T-shirts.
“We outright reject these unfounded claims,” Adidas said in a statement “Wewill take all necessary measures to vigorously defend ourselves against them”.
