The company released this statement to explain why it will no longer be affiliated with Lochte:
Previously, the company said it was "following the situation" in Rio and awaiting an outcome before deciding whether or not to continue their relationship with Lochte. But in the end, they decided not to move forward with him, and instead, they have chosen to donate $50,000 that would have gone to Lochte to Save the Children. That money will be used to help children in Brazil.
Shortly after Speedo kicked Lochte to the curb, Ralph Lauren did, too:
A company called Gentle Hair Removal did the same thing a short time after that:
And the mattress company Airweave became the fourth brand to do it on Monday afternoon:
In addition to all of this, Lochte and Jimmy Fegein, Gunnar Bentz, and Jack Conger—the three other swimmers who were with Lochte on the night that he claimed he was robbed in Rio—may face disciplinary action from USA Swimming. As of now, no punishments have been handed out, but they could be coming soon.