• Home
  • Contact Us
  • Terms And Conditions
  • Privacy Policy
  • Entertainment
  • News
  • Sports
  • Lyrics
  • Music
  • Tech
  • lifestyle
  • Education
No Result
View All Result
  • Entertainment
  • News
  • Sports
  • Lyrics
  • Music
  • Tech
  • lifestyle
  • Education
No Result
View All Result
Showbiz Killer
No Result
View All Result

Adidas sued by investors for ‘ignoring’ Kanye West’s ‘extreme behaviour’ ahead of cutting ties over antisemitic comments

Showbizkiller by Showbizkiller
May 1, 2023
in Entertainment
Reading Time: 2 mins read
Adidas sued by investors for ‘ignoring’ Kanye West’s ‘extreme behaviour’ ahead of cutting ties over antisemitic comments
5.9k
VIEWS
Share on FacebookShare on TwitterShare On WhatsappShare On Telegram

Adidas is facing a lawsuit from investors who allege that the company ignored problematic behavior from rapper Kanye West prior to terminating their partnership.

Last October, after a decade-long collaboration with the sportswear giant, West lost his deal with Adidas due to a series of antisemitic comments made on social media.

In response, Adidas declared that they would immediately end their partnership with West, halt production of Yeezy branded products, and cease all payments to the rapper and his companies.

The German label also announced an anticipated short-term negative impact of up to £217m on the company’s net income.

Investors are now suing Adidas, claiming that the company failed to disclose the risk of terminating their partnership with West.The claimants assert that Adidas was aware of the musician’s views long before the partnership was ended, citing reports of West making antisemitic comments in front of Adidas staff and suggesting that one of his albums be named after Adolf Hitler.

The abrupt termination of the partnership resulted in Adidas facing £1.1 billion worth of unsold stock and a £444 million operating profit loss this year.

Adidas rejects these claims and vows to take necessary measures to defend themselves against them. They state that they did not ignore West’s problematic behavior and assert that they terminated the partnership immediately after conducting a thorough review.

Advertisements: Article continues below

Despite the termination of his Adidas deal, West’s ex-wife, Kim Kardashian, made it onto Forbes’ billionaire list, along with other celebrities such as Rihanna. West himself dropped off the list.

While not connected to the Adidas lawsuit, West is facing other legal challenges. He is being sued by two former teachers from his private Christian school, Donda Academy, for wrongful termination and discrimination.

Court documents allege that children at the school were fed just one meal a day, sushi was served to students sitting on the floor, and the teachers were subjected to racial discrimination and illegal withholding of wages. Representatives for West have not yet commented on the matter.

Read Full Story Click  Here

 

Source: Townflex

Tags: Kanye West
Previous Post

Fotocopy Claims Abeiku Santana Bullied Him Into Apologizing To Kuami Eugene

Next Post

Apuzo Lele, LilWin’s Brother, Admits to Exploiting Actor’s Fame to Seduce Women

Showbizkiller

Showbizkiller

‘Spider-Man: Across the Spider-Verse’ opens with US$120.5 million

‘Spider-Man: Across the Spider-Verse’ opens with US$120.5 million

by Showbizkiller
June 10, 2023
0

"Spider-Man: Across the Spider-Verse" swung into U.S. and Canadian theaters with a staggering box-office debut of US$120.5 million, surpassing the...

WWE legend The Iron Sheik dies aged 81

WWE legend The Iron Sheik dies aged 81

by Showbizkiller
June 7, 2023
0

WWE Hall of Famer The Iron Sheik, aged 81, has passed away, confirmed his family on his social media accounts....

UK To Ban Nigerian Postgraduate Students From Bringing Families Over

UK To Ban Nigerian Postgraduate Students From Bringing Families Over

by Fiifi
May 22, 2023
0

  The United Kingdom is expected to announce new restrictions that will prevent many postgraduate students, including Nigerians, from bringing...

Kevin-Prince Boateng

Kevin-Prince Boateng cries after Hertha Berlin’s relegation from Bundesliga

by Fiifi
May 22, 2023
0

  Kevin-Prince Boateng, the Ghanaian attacker, was left devastated after Hertha Berlin's 1-1 draw with VfL Bochum on Saturday, which...

Chris Brown faces arrest if he returns to UK over alleged assault

Chris Brown faces arrest if he returns to UK over alleged assault

by Showbizkiller
May 21, 2023
0

Reports indicate that Chris Brown may face arrest should he set foot in the United Kingdom, following an alleged assault...

Jimmy Buffett rushed to hospital

Jimmy Buffett rushed to hospital, concert postponed

by Showbizkiller
May 19, 2023
0

Renowned musician Jimmy Buffett, accompanied by his esteemed Coral Reefer Band, has been compelled to reschedule a highly anticipated concert...

Stonebwoy

Stonebwoy Explains Why He Didn’t Feature Black Sherif On His 5th Dimension Album

by Fiifi
May 17, 2023
0

  Stonebwoy, a Ghanaian musician signed to Def Jam Records, has explained why he did not collaborate with Black Sherif,...

  • Home
  • Contact Us
  • Terms And Conditions
  • Privacy Policy

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Entertainment
  • News
  • Sports
  • Lyrics
  • Music
  • Tech
  • lifestyle
  • Education

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.