The Securities along with Exchange Commission said Thursday of which’s seeking a court order asking singer-songwriter Jay-Z to testify in an investigation into the Iconix Brand Group.
The SEC said of which’s looking into potential violations of federal securities laws related to Iconix’s financial reporting. of which said the company paid Jay-Z, or Shawn Carter, more than $0 million to acquire assets associated with his Rocawear apparel brand.
“After the acquisition, Carter along with Iconix maintained publicly-disclosed partnerships related to the Rocawear brand,” the SEC said, yet Jay-Z has failed to appear to testify about his venture with Iconix.
“We are aware of which the SEC is actually seeking information on Iconix’s financial reporting,” a representative of Jay-Z said in an email to CNBC. “Mr. Carter had no role in of which reporting or Iconix’s some other actions as a public company. Mr. Carter is actually a private citizen who should not be involved in This specific matter.”
A representative through Iconix didn’t immediately respond to CNBC’s request for comment.
The SEC initially issued a subpoena for Jay-Z’s testimony last November. The agency sent a second request in February, when Jay-Z had a completely new counsel. yet the rapper still hasn’t offered the SEC any dates for a court appearance, the filing said Thursday.
Shares of Iconix Brand Group were falling more than 9 percent Thursday afternoon following the news.
In addition to Rocawear, Iconix’s some other apparel along with accessories brands include Mudd, Mossimo, Joe Boxer, Bongo along with Ed Hardy.