Rapper Jay-Z Subpoenaed In SEC Probe Into Rocawear Deal

Rapper Jay-Z Subpoenaed In SEC Probe Into Rocawear Deal

The SEC asked the U.S. District Court for the Southern District of NY to force Carter to testify in the agency's probe of Iconix Brand Group, which acquired the rapper's Rocawear clothing brand in 2007.

A statement issued with respect to Jay-Z by a few of his agents said the entertainer had no role at its own activities like a business or the fiscal reporting to its Iconix Brand team.

American rapper Jay-Z, pictured here performing Bercy arena in Paris, Oct 17, 2013, is now in trouble.

In an ordered issued Thursday, U.S. District Judge Paul Gardephe of the Southern District of NY said Carter must appear before him on May 8 to answer why he should not be compelled to appear before the commission.

In the SEC's action, regulators say they want to talk to Carter about the joint venture with Iconix. That judge has now ordered the rapper to appear in Manhattan Federal Court to disclose details stemming from a suspicious $200 million acquisition by Iconix Brand Group in 2007.

Would You Travel The World For Money?
WOW Air wants to pay YOU, and a friend, partner, anyone you consider half of your "dynamic duo" to move to Iceland this summer. Travel and living expenses would also be covered by the airline while the winning pair would be visiting other destinations.

"We are aware that the SEC is seeking information on Iconix's financial reporting".

So far neither Iconix or JAY-Z has released a statement.

According to Bloomberg, Jay-Z's first SEC subpoena came in November 2017. "Mr. Carter is a private citizen and should not be involved in this matter". It said it's investigating in case national regulations were violated while the company reported benefits, including approximately its Rocawear-related belongings Iconix to learn. He was later send a second subpoena and failed to appear and declined to provide dates for investigative testimony.

So Jay-Z Has Ignored Two Subpoenas Before - How Is That A Thing?

A Iconix spokesperson could not be immediately reached for comment. In Thursday trading, Iconix shares were plunging - which is usually the impact of an SEC investigation into potential shadiness.

Related Articles

  • US, China dampen expectations as trade talks open

    US, China dampen expectations as trade talks open

    He said in an open meeting in March that during his visit to Washington both sides agreed there can not be a full-out tariff war. But the divergent USA trade delegation is likely to have differing views on the merits of such an offer.
    Capitals' Wilson avoids discipline for hit on Dumoulin

    Capitals' Wilson avoids discipline for hit on Dumoulin

    You can't get sucked into stuff like that because, at the end of the day, that's kind of what they want. Nicklas Backstrom scored the empty-net goal, while Kris Letang scored the only goal for the Penguins.
    WWE's 'Greatest Royal Rumble' delivered, but with storyline and real controversy

    WWE's 'Greatest Royal Rumble' delivered, but with storyline and real controversy

    This wasn't a shock at all because the WWE had been pushing Wyatt and Hardy, so not putting the belts on them would have been bad. Another good night for the WWE's monster as he won the biggest ever Royal Rumble , throwing Big Cass over last to triumph.
  • Fortnite: season IV begins with a bang - and new locations

    Fortnite: season IV begins with a bang - and new locations

    Some players have already discovered that there is a Omega pickaxe that can be unlocked by completing special Omega challenges . These purple crystals enable players to float in zero gravity for a limited time, opening up a whole host of gameplay options.
    Facebook to unveil dating feature

    Facebook to unveil dating feature

    The Spotify and Go Pro apps have gained the ability to share content directly to Instagram Stories, and other apps will follow. Following the Cambridge Analytica scandal , Facebook has tightened control of information collected through apps.
    US Market Indexes Mixed With Further Increases in Treasury Yields

    US Market Indexes Mixed With Further Increases in Treasury Yields

    Declining issues outnumbered advancing ones on the NYSE by a 1.94-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners. Other companies, including Lockheed and 3M, also gave disappointing updates, adding to the sting of rising Treasury yields.
  • Patriots Considered Trading Up to No. 2 For Baker Mayfield

    Patriots Considered Trading Up to No. 2 For Baker Mayfield

    Even though they won six games past year , this is a lot of expectations from this young team, and this will certainly help them. The story on whether or not Baker Mayfield will end up being a great National Football League quarterback has yet to be written.
    Kelly dismisses as false a report he called Trump an 'idiot'

    Kelly dismisses as false a report he called Trump an 'idiot'

    CNN concluded Trump had been mad at Kelly over his handling of White House aide Rob Porter's dismissal and has been reporting since that time Kelly was on the way out.
    Modi rules out hung Karnataka Assembly, bets on BJP win

    Modi rules out hung Karnataka Assembly, bets on BJP win

    A significant 40 per cent of people believe the Congress is corrupt while almost half of that find the BJP to be most corrupt. PM Modi claimed that over two dozen BJP workers were killed under the Congress government in Karnataka in political violence.
  • Structures lost as Tinder Fire burns over 8000 acres in northern Arizona

    Structures lost as Tinder Fire burns over 8000 acres in northern Arizona

    MT on Monday showed that it had burned 8,623 acres west of Highway 87 between Payson and Winslow, Arizona. Governor Doug Ducey declared a State of Emergency in response to the Tinder Fire in Coconino County .
    Ronny Jackson still on staff, White House says

    Ronny Jackson still on staff, White House says

    The White House continually defended Jackson as his nomination cratered on Capitol Hill this week. Johnny Isakson, R-Ga., chairman of the committee considering Jackson's nomination.
    Paul Ryan forces out House priest because he 'aligned with Democrats'

    Paul Ryan forces out House priest because he 'aligned with Democrats'

    There are also reports that some lawmakers were dissatisfied with his service, but no one has stepped forward to criticize Conroy. Kaptur said she wants to find a bipartisan solution, which could include a privileged resolution to reinstate Conroy.