Shareholders File lawsuit Against Adidas
FeaturedAdidas is being sued by shareholders for the collaboration that Adidas had with Ye formerly known as Kanye West. The shareholders filed a class action lawsuit against Adidas.
It’s being reported that the shareholders are accusing Adidas of being aware of Ye’s behavior and could’ve prevented the situation from escalating into what it became. Back in October of 2022 Adidas had officially cut ties with Ye due to antisemitic comments he made.
As of right now Adidas does have a lot of Yeezy branded products in their inventory and haven’t decided how they are going to deal with the situation. There are reports that they may end up releasing without yeezy branding on them or completely destroying every product that they have. Adidas did announce that they would figure out what to do with those products later on in 2023.