Jay-Z ordered to testify in SEC investigation into Rocawear

The Guardian (05/09/2018)
  • Rapper/entrepreneur Shawn “Jay-Z” Carter must appear in court next week (May 15th) to testify regarding the 2007 sale of Rocawear to Iconix Brand ($204 million).
  • Jay started Rocawear in 1999 with former business partner Dame Dash.
  • The SEC is questioning Iconix writing down the value of Rocawear by $203 million since the acquisition (potential violation of securities law).
  • Jay unsuccessfully tried using preparation for the upcoming “On the Run II” Tour with Beyoncé to excuse himself from court.