Adidas hit with class-action lawsuit over Yeezy partnership.

Shareholders have filed a class-action lawsuit against Adidas, former CEO Kasper Rorsted, and current CFO Harm Ohlmeyer over the sportswear company's former partnership with rapper Ye, also known as Kanye West. The plaintiff, HRSA-ILA Funds, claims "significant losses and damages" due to Adidas allegedly not making proper disclosures to investors about Ye's offensive behavior. The partnership ended in October 2021 after Ye made anti-Semitic comments. Adidas has warned of losses in the aftermath of the Yeezy fallout and is still figuring out how to proceed with the Yeezy stock it still has.