It is the latest company to distance itself from the rapper after a series of controversial moves and antisemitic comments.
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The Pro Football Hall of Famer is being sued by the state of Mississippi for misappropriating welfare funds to his alma mater.
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He released a statement after the company lost star athletes Aaron Donald and Jaylen Brown.
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The suspension stems from a firearm-related charge that was issued in 2021.
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The company had begun a review of the its partnership with the musician earlier this month.
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