JAY-Z

A Manhattan federal court judge has ordered JAY-Z to appear in court on May 8 at 3 p.m. to explain why he failed to show up for two earlier SEC hearings.

A U.S. District Court judge ordered JAY-Z to appear and show cause why he shouldn't testify to the Securities and Exchange Commission which is looking into Iconix Brand Group.

Iconix paid JAY-Z over $200 million to acquire Roc Nation clothing assets in 2007.

But Iconix reported a lower sales figure than the actual number that JAY-Z reports he received for the Roc Nation assets.

The SEC is investigating whether Iconix violated securities law by reporting a lower figure.

The SEC issued a subpoena for JAY-Z to testify in November 2017 and again in February 2018 - but the rap mogul failed to show up for either hearing.

The 48-year-old rapper, whose real name is Shawn Carter, retained a lawyer after he received the February subpoena.

"We are aware that the SEC is seeking information on Iconix's financial reporting," a representative for Jay-Z tells Hollywoodreporter.com. "Mr. Carter had no role in that reporting or Iconix's other actions as a public company. Mr. Carter is a private citizen who should not be involved in this matter."

JAY-Z owns or is a partner in numerous enterprises, including TIDAL music streaming app and several sports bars.

  • FukkFolks2018

    Seems like you would know better than to skip out on a fed court request for you to appear. Why are you JUST NOW getting a lawyer to address this? Whether you felt you should be involved or not...you should have still gone to see what they want.

    Good luck with this Stabber. Right when you were finally growing on me after 20-21 years. You out here stanning for Meek Mil on his court case and your own damn laundry dirty af. https://uploads.disquscdn.com/images/ae51ba23857a19e6d50ac069876b6dfa23db23070f54c151d576d97126fd1365.gif

  • hi-liter

    LOL....why you call Jay the Stabber?

  • Ni Ni

    He's mfn Jay-z; he got Meek mill outta jail. How dare the federal courts summon him. *Sarcasm*

  • MissHarlem

    And we care because.....?. Before I even get paid this will be taken care of. Not my problem I got summer plans to make.

  • Quitedeliteful

    I got summer plans to make.
    ~~~~~~~~~~~~~~~~~~~~~~~~~
    LOLLOLLOL!!!!!!!

  • Quitedeliteful

    LOLLOLLOL!!!!!!!!

  • Trace da Ace

    welp....I checked....twice even...and nope...not even a single fuk to give on this subject...NEXT! :)

  • jeniefrumdabloc™

    ???? whew shyt

  • Skin Deep Beauty

    Only a face his wife and mother could love. That's one unattractive dude! He need to keep his hair faded and back away from the camera! JMO

  • FukkFolks2018

    Bc he stabbed fat ass Un Rivera twice in 1999. Over either a woman (per Cam'ron it was over Charli Baltimore) or for leaking his album. The story differs. the facts dont tho. Un got tagged in his fat ass stomach and his meaty ass shoulder. Da Stabbah.

  • MissHarlem

    I got enough worries to care about a rich dude's court issues ? now on to important matters...what bathing suit to buy hmmmm

  • Tlowe89

    I’m on lunch break waiting in line at Peg Leg Porker... getting these ribs in time for my meeting at 1230 at work across time is my only concern.....

  • MissHarlem

    Eat well my friend lol enjoy

  • http://batman-news.com Roderick2011

    Why should he have to testify when the SEC could obtain Iconix's bank records?

    This sounds like Trump is after him.

  • We Can Do This

    Charli was one of Big's women, how could J do such a thing...

  • Applebootay

    I agree, that ain't got nothing to do with him.....

  • Trace da Ace

    I second that...for real....

  • Applebootay

    Girrrrrlllllll Jay said....."Ain't no such thing as an ugly billionaire, I'm cute".....he's right....IMO

  • Birdman24

    He leaked Jay's record and when confronted about it an argument escalated and he grabbed Jay and he poked him that simple....

  • Applebootay

    You gone eat them ribs in the meeting? LOL

  • Applebootay

    WOW!!!

  • Pnthr

    Except he's not a billionaire...

  • Quitedeliteful

    You got that right!!!!

  • FukkFolks2018

    Kanye sent his new bff after his old bff?

    Well ok

  • Trace da Ace

    nope..not cute...I would say... ...tolerable....lol

  • http://batman-news.com Roderick2011

    Didn't J say something slick about Trump?

    You know how petty Trump is. Maybe that's why Kanye like Trump.

  • Smith Jane

    Interesting. Jay bragged about that $200 million, so if it’s discovered that it was actually lower than that, will his fans care? And, that was stupid of Iconix to report a lower figure, especially when Jay was screaming ,to anyone that would listen, about how he such a great business man for getting $200 million.

  • Ang

    That suit is wearing him. He tries too hard.

    What does being a private citizen have to do with anything lol? Everyone is a private citizen. Citizens still have to follow court orders. These rich celebrities always think they can do whatever they want. You have to go to court to explain whatever your side is.

  • Ang

    He's lying. Celebrities and rich people keep lawyers on retainer. He was just looking for an excuse but it was a bad one.

  • Ang

    He has to testify because the federal government told him to. That's all there is to it. If he doesn't show up they will send sheriffs to bring him in. You don't get to decide that you aren't in something so you aren't going to court lol.

  • NeverSurprised

    Carter's company would have had to declare the income from the sale, so it should be a simple enough matter to determine the correct figure.

    But no reputable attorney would advise a client to simply ignore a validly issued subpoena on the basis he is a "private citizen." That is beyond absurd. If he wants to withhold the information, his attorney can argue that he is not a party to the action and therefore should not be compelled to disclose company information, but you can't just NOT SHOW UP.

    Of course, ignoring two subpoenas makes it look like he has something to hide.

  • Applebootay

    Its always that one person....we fugging know that...its not literal....damn

  • Pnthr

    ?? sure

  • Libra80sBaby

    He 48??

  • NeverSurprised

    You know Roderick doesn't understand how a federal subpoena works. You might as well be speaking Mandarin in attempting to explain it to him.

  • Ang

    Lol
    Even if all you know is from Law and Order, you know you can't ignore subpoenas. People just love celebrities too much.

  • Nina Ross

    You don’t have to show up if you weren’t served.

  • Anunnaki

    Not quite

  • MsPam

    Stop being paranoid, y’all fear Trump more than you fear Jehovah God!

  • Ang

    Yes, dear.

  • Dahl

    Jay looks like slavery WAS a choice for him in that pic...

  • http://batman-news.com Roderick2011

    Trump has proven that he's a thin-skinned vindictive troll who will use any thing at his disposal to obtain revenge.

  • Applebootay

    LOL...even more tolerable with millions

  • HTOWNPuffinBlockGameSoStrong

    Lol! True...

  • HTOWNPuffinBlockGameSoStrong

    LMAO!!!

  • Karen Brady

    *Crine*

  • Mark mcharm

    He is getting close

  • KJBibleOnSlaveShips

    Nd you on a blog broke and hating.LOOOL

  • KJBibleOnSlaveShips

    Nah, We woke blk people don't fear Dump more than THE MOST HIGH YAH!!!!

  • Karen Brady

    Lmao. Ya'll crazy

  • guest

    ok, he on their list next to damage. he better not continue to play with SEC The feds back SEC 10000x. He phuck around a get locked up for some BS that dont exist! Tax invasion/fraud etc.

  • Munchosgirl

    10 years after the acquisition....

  • Tlowe89

    It was a Skype meeting and yep I sure did. They were excellent. ?

  • Tlowe89

    Oh I most certainly did

  • Tlowe89

    So I’m trying to trade my car in within the next 60 days. I got 1500 in debt I wanna pay off 1st. So the question is.... Is Jay gone help a sista out? Is so that’s the only reason I care about this story

  • Fire & Ice

    I was thinking the same thing. There are some entities that you don't want to mess around with. Anything alphabetically connected to the government, would be on that list. IRS, FEDs, SEC, etc

  • NeverSurprised

    ????????

  • NeverSurprised

    He WAS served. He was served with subpoenas for two separate SEC hearings and ignored each one, hence the federal court order.

  • NeverSurprised

    Do you understand what a subpoena is?

  • http://sandrarose.com SandraRose

    The IRS never forgets, hun.

  • angelpat2812

    Lol!!! You ain't right! Lol!!!!

  • Skin Deep Beauty

    I 'ont care nuffin bout his money... He still oogly and gone die ooggley and caint take his oogle money with him... NOW! He can Doo dooba billion dollar bill and wipe his arse with it and his mugg will still be oogly!

  • Skin Deep Beauty

    An opinion is NOT HATE!! BYE!

  • Anunnaki

    Yes, i just left the subject alone i realize i would have to go deep to explain what i meant, when i said, not quite it all good tho

  • Pnthr

    Oh okay...

  • Logan Roberts

    Sandra goes out her way to find the worse pictures of folks?

  • Munchosgirl

    Security and Exchange Commision is not the same as the Internal Revenue Service....both Federal....but not he same.

  • Miss Thang

    He’s hideous. I’m sorry.

  • rachel

    He exaggerated the sales price for the Roc Nation clothing assets...

  • KJBibleOnSlaveShips

    my apologies

  • pecancandy

    HIV, AIDS

  • Peace

    They want to look at Jay acquisitions, bank accounts, tax records, and charge him with fraud, money laundering just like they doing everyone connected to Trump.
    They gone find out where all his billion or so dollars came from.
    The beginning of the end Jay.
    It’s a new Massa in charge now.

  • http://batman-news.com Roderick2011

    Exactly and they are using this as an excuse.

  • Munchosgirl

    This case is not about JayZ though, its about Iconix...they want him to basically testify against Iconix...or no one read the article?

  • Fire & Ice

    Those too... chillllllddddd ?

  • Mrs. S. Kidd

    This is far from the worst picture of Jay Z lol

  • Mrs. S. Kidd

    The point is, he's not testifying against Iconix either sooooo what does he have to hide on behalf of that company? Or would he have to disclose not being a real "billionaire" lol

  • starbright9449

    Or maybe Iconix is lying. Obviously their finances would be looked at.

  • Peace

    Roc Nation launching a Television Division. They hate Jay doing a Trayvon Martin documentary already and supporting black causes.
    They gone try to Bill Cosby him at the highest levels.

  • Evillene

    No one lies in an SEC filing unless they think they will look good in that green prison jumpsuit.

  • sceutie

    Sad but true. Those ducks have to be in a row. A pound of flesh and then some.

  • Readytochokemothernatureout

    Lol ???