Last Updated: May 01, 2023, 01:45 IST
Adidas has faced criticism over its partnership with Kanye West, following allegations of problematic behaviour by the rapper and designer. (File Photo)
The allegations refer to behaviour that included antisemitic and racist comments. Adidas ended its collaboration with West last year
Investors have filed a lawsuit against sportswear giant Adidas, claiming the firm failed to limit financial losses and take precautionary measures to minimise their exposure to the controversial behaviour of rapper and designer Kanye West.
The allegations refer to behaviour that included antisemitic and racist comments, BBC reported.
“We outright reject these unfounded claims,” Adidas said.
Adidas ended its collaboration with West last year. The rapper, who is known as Ye, designed the successful Yeezy trainers for the brand.
The investors claim that Adidas knew about other problematic behaviour by West years before the end of the partnership, the BBC report said.
Adidas has rejected claims made by investors that it failed to limit financial losses and take appropriate steps to manage risk relating to rapper.
The sports giant said it would “vigorously defend” itself against the allegations.
Notably, Rolling Stone published a report referring to a letter which revealed that Adidas bosses were aware of West’s “problematic behaviour” but “turned their moral compass off”.
However, Adidas has said it is unclear clear whether the accusations made in the anonymous letter were true.