Adidas has been sued by investors who claim the company knew about Kanye West’s problematic behavior years before ending their partnership. Investors also argue that Adidas failed to limit financial losses and take precautionary measures. In response, Adidas representatives said that they “categorically reject these unfounded claims”, according to the BBC.
West is not a party to the lawsuit. The rapper designed a line of highly successful sneakers for Adidas under the Yeezy brand. Adidas has admitted it could lose up to €700 million after being left with hundreds of millions of euros worth of Yeezy products in stock.
The company ended its collaboration with the rapper last year, following some of his anti-Semitic comments.
“Adidas does not tolerate anti-Semitism and any other type of hate speech. Ye’s recent comments and actions were unacceptable, hateful and dangerous and violate the company’s values of diversity and inclusion, mutual respect and fairness,” company representatives announced last year.
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