Adidas Settles Legal Dispute with Ye

LONDON (Reuters) – Adidas has reached an out-of-court settlement with rapper Ye, ending all legal proceedings between them, the sportswear brand announced on Tuesday. No money changed hands in the agreement.

Adidas (OTC:ADDYY) and Ye had been involved in multiple lawsuits for the past two years after the German company terminated its partnership with the rapper, formerly known as Kanye West, over his antisemitic remarks.

CEO Bjorn Gulden stated, "There aren't any more open issues, and there's no money going either way, and we both move on," during a conference call with reporters, but he declined further details regarding the settlement.

Gulden mentioned the existence of tensions on various issues, explaining that both parties decided to withdraw their claims, effectively deciding not to continue the fight anymore.