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.
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
LOL….why you call Jay the Stabber?
He’s mfn Jay-z; he got Meek mill outta jail. How dare the federal courts summon him. *Sarcasm*
And we care because…..?. Before I even get paid this will be taken care of. Not my problem I got summer plans to make.
I got summer plans to make.
~~~~~~~~~~~~~~~~~~~~~~~~~
LOLLOLLOL!!!!!!!
LOLLOLLOL!!!!!!!!
welp….I checked….twice even…and nope…not even a single fuk to give on this subject…NEXT!
???? whew shyt
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
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.
I got enough worries to care about a rich dude’s court issues ? now on to important matters…what bathing suit to buy hmmmm
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…..
Eat well my friend lol enjoy
Why should he have to testify when the SEC could obtain Iconix’s bank records?
This sounds like Trump is after him.
Charli was one of Big’s women, how could J do such a thing…
I agree, that ain’t got nothing to do with him…..
I second that…for real….
Girrrrrlllllll Jay said…..”Ain’t no such thing as an ugly billionaire, I’m cute”…..he’s right….IMO
He leaked Jay’s record and when confronted about it an argument escalated and he grabbed Jay and he poked him that simple….
You gone eat them ribs in the meeting? LOL
WOW!!!
Except he’s not a billionaire…
You got that right!!!!
Kanye sent his new bff after his old bff?
Well ok
nope..not cute…I would say… …tolerable….lol
Didn’t J say something slick about Trump?
You know how petty Trump is. Maybe that’s why Kanye like Trump.
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.
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.
He’s lying. Celebrities and rich people keep lawyers on retainer. He was just looking for an excuse but it was a bad one.
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.
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.
Its always that one person….we fugging know that…its not literal….damn
?? sure
He 48??
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.
Lol
Even if all you know is from Law and Order, you know you can’t ignore subpoenas. People just love celebrities too much.
You don’t have to show up if you weren’t served.
Not quite
Stop being paranoid, y’all fear Trump more than you fear Jehovah God!
Yes, dear.
Jay looks like slavery WAS a choice for him in that pic…
Trump has proven that he’s a thin-skinned vindictive troll who will use any thing at his disposal to obtain revenge.
LOL…even more tolerable with millions
Lol! True…
LMAO!!!
*Crine*
He is getting close
Nd you on a blog broke and hating.LOOOL
Nah, We woke blk people don’t fear Dump more than THE MOST HIGH YAH!!!!
Lmao. Ya’ll crazy
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.
10 years after the acquisition….
It was a Skype meeting and yep I sure did. They were excellent. ?
Oh I most certainly did
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
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
????????
He WAS served. He was served with subpoenas for two separate SEC hearings and ignored each one, hence the federal court order.
Do you understand what a subpoena is?
The IRS never forgets, hun.
Lol!!! You ain’t right! Lol!!!!
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!
An opinion is NOT HATE!! BYE!
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
Oh okay…
Sandra goes out her way to find the worse pictures of folks?
Security and Exchange Commision is not the same as the Internal Revenue Service….both Federal….but not he same.
He’s hideous. I’m sorry.
He exaggerated the sales price for the Roc Nation clothing assets…
my apologies
HIV, AIDS
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.
Exactly and they are using this as an excuse.
This case is not about JayZ though, its about Iconix…they want him to basically testify against Iconix…or no one read the article?
Those too… chillllllddddd ?
This is far from the worst picture of Jay Z lol
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
Or maybe Iconix is lying. Obviously their finances would be looked at.
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.
No one lies in an SEC filing unless they think they will look good in that green prison jumpsuit.
Sad but true. Those ducks have to be in a row. A pound of flesh and then some.
Lol ???