SEC Asks Federal Court to Compel Jay-Z to Testify

Jay-Z — 21

The hip-hop mogul, whose given name is Shawn Carter, is the target of a Securities and Exchange Commission enforcement subpoena after failing to testify as part of an agency investigation of accounting practices at Iconix Brand Group Inc., which paid $200 million to acquire assets from his Rocawear apparel brand in 2007. A Twitter user, referencing Jay-Z's third subpoena and hit track "99 Problems", tweeted Thursday, "Now, 100 problems".

Jay z must make clear why he has dodging a subpoena as opposed to answering queries related a judge states.

The Securities and Exchange Commission said the repeat Grammy victor, whose real name is Shawn Carter, failed to respond to subpoena seeking his testimony, so officials have asked a federal judge in NY to take action.

The SEC initially issued a subpoena on November 16, 2017, with a second subpoena issued February 23, 2018 after he failed to appear.

The SEC is looking ask about his joint ventures with Iconix, among other things.

Since March 2016, Iconix has reported it has had to write down $204 million on Rocawear.

The federal judge in the case, Paul Gardephe, ordered Carter to appear in a Manhattan court on Tuesday to explain why he should not be forced to talk to the SEC.

"Mr. Carter is a private citizen who should not be involved in this matter", they add.

Simply asserting he does not have relevant information will likely not be enough for Carter to be allowed to ignore the subpoena, Chase said.

The dates on which Jay-Z will appear in court to testify are unknown, as of Thursday afternoon. "The SEC doesn't typically back down". Iconix sued Carter a year ago, claiming a copyright infringement over his continued use of his Roc Nation brand to sell clothing products, now under the name Paper Plane.

Court documents list Jay-Z's attorney as Alexander Spiro, who is now representing the artist in a legal dispute with Iconix over the $200 million deal.

The company, which began 40 years ago as the shoe company Candie's, has grown to include more than two dozen American brands, including Danskin, Umbro and London Fog that the company licenses to mainstream retailers.

Related News:

  • Kerala Board may release SSLC 2018 result today; here's how to download

    Kerala Board may release SSLC 2018 result today; here's how to download

    The Kerala Education department has also made facilities for releasing the results in apps like PRD Live of PRD Kerala. However, with the Second language paper being postponed from March 12 to March 28 saw the exams get over on March 28.
    Basque Group ETA Announces It Has 'Completely Dissolved'

    Basque Group ETA Announces It Has 'Completely Dissolved'

    The Spanish government fears that ETA members and sympathizers could score political points with a negotiated surrender. The group's bloodiest period came as Spain transitioned from dictatorship to democracy during the early 1980s.
    Braves call up another top prospect; Soroka to debut vs Mets

    Braves call up another top prospect; Soroka to debut vs Mets

    Atlanta right-hander Julio Teheran (1-1, 4.50 ERA) faces Mets left-hander Jason Vargas (0-1, 22.09) in the series finale. This is the 35-year-old's first start against the Braves since October 3, 2005 when he was a rookie with the Marlins.
  • Arizona's Tinder Fire burns over 8600 acres

    Arizona's Tinder Fire burns over 8600 acres

    Blue Ridge Area Residents are encouraged to call the County's Call Center, 928-679-8393 with evacuation questions. ADOT says there is no timetable for reopening the closed stretch near Clints Well between mileposts 290 and 312.
    Trump blasts leak of Mueller questions as 'disgraceful'

    Trump blasts leak of Mueller questions as 'disgraceful'

    Trump raised concerns about the Steele Dossier and said he needed loyalty from his F.B.I. director. Mr Mueller was appointed as special counsel following Mr Trump's firing of Mr Comey last May.
    Facebook adds 'Clear History' option amid privacy scandal

    Facebook adds 'Clear History' option amid privacy scandal

    But after several weeks on the defensive over the scandal, Zuckerberg was clearly back in techno-enthusiasm mode. This is already what other dating apps that rely on Facebook data do, such as Tinder .
  • Prince Harry and Meghan Markle select carriage for wedding

    Prince Harry and Meghan Markle select carriage for wedding

    King Edward VII gave it to his son Prince George, later King George V, and his wife Queen Mary as a wedding gift. The gold can be found in almost every royal ring of recent time, including Kate Middleton's ring , shown below.
    Mystery surrounds vehicle  hanging from bridge by a wire

    Mystery surrounds vehicle hanging from bridge by a wire

    In one instance, a Bug was suspended from San Francisco's Golden Gate Bridge in February 2001. Police said there is no hazard and no road closures are in effect in the area.
    Two from the Lehigh Valley up for Tony Awards

    Two from the Lehigh Valley up for Tony Awards

    In other revival news, My Fair Lady, Once On This Island , and Carousel are up for Best Revival of a Musical . The Tony Awards race this year seems to be dominated by big established brands - Disney's " Frozen ", J.K.
  • Reid files grievance against NFL

    Reid files grievance against NFL

    With AP Photos.The NFL players' union says former San Francisco 49ers safety Eric Reid has filed a grievance against the league. Reid recently doubled down on his support of Kaepernick and his mission in a recent closed-door meeting with team owners.
    Germany sees permanent exemption from United States  tariffs for EU

    Germany sees permanent exemption from United States tariffs for EU

    Germany, whose trade surplus has attracted criticism from Trump, said it expected a permanent exemption . It is still not clear if South Africa's request to be exempted will be granted by the USA government.
    Former Trump Doctor Says He Dictated that 'Healthiest Man Ever' Letter

    Former Trump Doctor Says He Dictated that 'Healthiest Man Ever' Letter

    The incident was carried out by then-White House aide Keith Schiller and another "large man" on February 3, 2017, Bornstein said. A few weeks ahead of its release, Trump had tweeted that Bornstein's medical report would show "perfection".


Most liked

Texas teen Matin Azizi-Yarand arrested for planning mass shooting at mall
Azizi-Yarand is said to have considered attacking a Hindu temple and even a school before settling on the Stonebriar Centre mall. A Texas teen is accused of trying to recruit others for an ISIS-inspired plot to commit a mass shooting at a local mall.

Trump's Iran deal threat scaring oil traders
The rising prices of petrol and diesel increase the burden on citizens, affecting to some extent the government's popularity. Crude production in the USA has soared more than 25 percent since mid-2016 to a record 10.59 million barrels per day (bpd).

Nikola begins electric semitruck war, hits Tesla with $2 billion patent suit
Tesla's planned new truck infringes three design patents owned by a competitor, according to a lawsuit filed yesterday. A Tesla spokesperson downplayed the lawsuit in a statement to the Verge , while a Nikola rep refused to comment.

All you need to know about International Labour Day
When people responded positively to the frequent changes to Google's homepage logo, the Doodles became an everyday feature. This policy also formulated the creation of the Social Security Network, Old Age Benefit Schemes and Workers Welfare Fund.