Federal Judge Dismisses Adidas Investor Lawsuit Over Kanye West’s Conduct

Published on August 19, 2024

A federal judge dismissed a lawsuit brought by investors against Adidas AG and one of its top executives, Harm Ohlmeyer, over allegations that the company failed to disclose “overtly antisemitic and other racially offensive remarks” by Kanye West, now known as Ye, during his partnership with the sportswear giant. The plaintiffs, led by HRSA-ILA Funds, said this omission misled investors and constituted federal securities fraud under the Securities Exchange Act of 1934. The lawsuit centered on allegations that Ye engaged in inappropriate and anti-Semitic behavior between 2013 and 2018 while collaborating with Adidas on the popular Yeezy line of footwear. The plaintiffs argued that Adidas knew about Ye’s behavior but did not disclose it to investors, thereby creating a misleading impression of the risks associated with the partnership. Adidas officially cut ties with Ye in October 2022....

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