German multinational corporation, Adidas, has ended all legal suits with controversial American rapper, Kanye West.
Recall that in 2022, Adidas terminated it’s business deal with Kanye West’s footwear known as Yeezy due to public pressure from the American Jewish Committee (AJC), the singer faced backlash for making antisemitic comments.
In a new development, Bjorn Gulden, the chief executive of Adidas stated that the legal suit against Kanye West is now a thing of the past.
He said,
“Adidas reached an out of court settlement with West to end all legal proceedings without money exchange. The drama with West belongs to the past.
After ending the partnership in 2022, Adidas was left with Yeezy stock worth around €1.2bn (£840m).
Following the end of the legal dispute, the company said that the final Yeezy stocks will be sold by the end of 2024.