[videowaywire video_id=”27C9D188DD42B065″]
*Jay-Z was ordered to appear in court on Tuesday as part of the Securities and Exchange Commission’s investigation into the Iconix Brand Group…but the rapper, for the third time, was nowhere to be found, according to CNBC.
As previously reported, the SEC is investigating potential violations of federal securities laws related to Iconix Brand Group’s financial reporting. Jay-Z had allegedly been paid more than $200 million by the company to acquire assets related to his Rocawear brand. He also maintained publicly disclosed partnerships with Iconix, according to the SEC.
A subpoena for his testimony was initially issued in November and again in February, but Hov has not offered the SEC any dates for a court appearance according to an SEC filing Thursday.
“This testimony has been delayed for five months and I do not intend to tolerate any more delays,” U.S. District Judge Paul Gardephe said Tuesday in court.
Jay-Z whose real name is Shawn Carter, filed an affidavit on Monday stating that he is rehearsing in California for a worldwide tour and that taking time out to testify would impossible, according to the New York Daily News.
Meanwhile, shares of Iconix closed down nearly 2.7 percent Tuesday.
We Publish News 24/7. Don’t Miss A Story. Click HERE to SUBSCRIBE to Our Newsletter Now!
