Adidas Investor Loses Bid to Revive Suit Over Ye Partnership

Adidas AG correctly defeated an investor’s proposed class action tied to the footwear brand’s imploded partnership with Ye, the rapper formerly known as Kanye West, an appeals court ruled Wednesday.

Business partnership risk disclosures targeted by the investor weren’t misleading like was found in securities cases involving Alphabet Inc. and Meta Platforms Inc., the US Court of Appeals for the Ninth Circuit said in an unpublished memorandum.

The court said the footwear investor’s case differed from those that concerned concealed data breaches given it involved “a celebrity partner who already had public notoriety for his improper behavior even ...