"Adidas Faces Lawsuit from Shareholders over Collapsed Partnership with Kanye West"

 Adidas is facing a class-action lawsuit from shareholders who claim that the sportswear brand failed to inform investors about Kanye West's "extreme behavior" and antisemitism before their partnership ended in 2022. According to the lawsuit, Adidas "routinely ignored" West's behavior as early as 2018 and "failed to take meaningful precautionary measures" to limit financial exposure if the partnership ended. The lawsuit does not name the rapper, but covers anyone who bought an Adidas share from May 3, 2018, until 2023. The company ended its almost decade-long partnership with West after he wore a "White Lives Matter" T-shirt in public and made antisemitic remarks during a podcast taping. Adidas said that it does not tolerate hate speech and that West's comments violated the company's values of diversity and inclusion. The company is expected to lose $1.3 billion in revenue this year due to its inability to sell West's Yeezy clothing and shoes. Defendants in the lawsuit include Adidas' former CEO Kasper Rørsted and Chief Financial Officer Harm Ohlmeyer.

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