(Ye) formally . However, their split (due to by Ye) continue to impact both entities. For Adidas, the brand found itself in an intense HRSA-ILA Funds.
But their class-action lawsuit has supposedly come to an end. According to , on August 16, a judge dismissed the suit, stating that Adidas could not be held responsible for Ye’s comments. “Certainly, that Ye allegedly engaged in such behavior while working with adidas is troubling,” said Judge Karin J.
Immergut. “This Court does not condone what Ye allegedly did. But the question before this Court is not whether to admonish Ye or hold Adidas morally accountable for Ye’s conduct.
” In court documents, the entity accused Adidas of misleading investors through its fiscal year 2018-2021 risk disclosure comments in its annual statements; its diversity, equity and inclusion statements; and in the European Union’s Non-Financial Reporting Directive and the independent Global Reporting Initiative’s sustainability framework. But Immergut argued that opposite. “This Court is faced with a precise legal question: has [HRSA-ILA Funds] sufficiently pleaded facts showing that Adidas misled investors and thereby committed federal securities fraud,” she said.
“On the current record before this Court, the answer is no.” HRSA-ILA Funds also claimed Adidas “was aware of the volatile potential of its partnership with Kanye West.” But proceeded anyway without alerting investors of “Ye’s increasingly erratic behavior,”.