US EditionCourt sides with Adidas in appeal over Kanye West collaboration
The 9th Circuit ruled Adidas did not mislead investors about risks linked to its Yeezy deal despite a $1.17 billion sales hit and share price drop after West's remarks.
- Adidas fended off an appeal from shareholders who accused it of hiding misconduct by Kanye West before cutting ties with him.
- A San Francisco court ruled that Adidas did not mislead investors, who claimed they lost money after Adidas shares plunged when it ended its partnership with West.
- The court said a reasonable investor would know that a partnership with a celebrity like West could come with risks relating to improper behavior.
14 Articles
14 Articles
Adidas defeats appeal of lawsuit over imploded Ye partnership
Adidas defeated an appeal on Wednesday by U.S. shareholders who said the footwear and apparel maker fraudulently concealed antisemitic and other improper behavior by Ye, formerly known as Kanye West, before its partnership with the rapper and fashion designer imploded in 2022.
Adidas Wins Key Court Battle Over Investor Claims Tied To Ye Partnership
Another day, another lawsuit finds its way through the courts, and this time, Adidas has come out on top. A group of investors attempted to argue that the company had… The post Adidas Wins Key Court Battle Over Investor Claims Tied To Ye Partnership appeared first on .
The investors were seeking damages for what they said was an intentional cover-up by Adidas that the rapper was mentally ill, a claim the court said investors should have taken into account.
Adidas Defeats Appeal of Lawsuit Over Imploded Ye Partnership
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