Jay-Z is trying to get out of talking to the Feds. It may not be easy.
In 2007, New York-based Iconix Brand Group paid Carter more than $200 million for Rocawear, an apparel brand co-founded by the hip-hop star. But in March 2016, Iconix lowered the value of Rocawear by $169 million, according to the SEC. If Carter does not comply with the subpoena, he may be held in contempt, according to the order. “Imagine if everyone who gets an SEC subpoena could decide whether or not to comply. When Carter struck the deal with Iconix, Rocawear was bringing in more than $700 million in revenue a year.
Source: Washington Post May 03, 2018 18:32 UTC
