Court sides with Adidas in appeal over Kanye West collaboration

AI Summary
Adidas won an appeal in a San Francisco court against shareholders who claimed the company hid Kanye West's misconduct before ending their partnership in 2022. The shareholders, represented by HLSA-ILA Funds, alleged Adidas misled investors by not disclosing the risks associated with West's behavior, leading to financial losses when Adidas shares plummeted after cutting ties with him. The court ruled that investors should have been aware of the inherent risks of partnering with a celebrity like West. The Yeezy collaboration had been highly profitable for Adidas, generating significant revenue, but West's antisemitic comments and controversial behavior prompted Adidas to terminate the partnership, resulting in substantial financial repercussions for the company.
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