Cyrus Langhorne
Music mogul JAY-Z has finally caved in and agreed to meet up with the Securities and Exchange Commission about the value of the iconic Rocawear trademark and his involvement with company Iconix Brand Group following its 2007 sale.
According to reports, cameras spotted Young Hov Tuesday (May 15) meeting at the SEC offices.
Last week, a judge told JAY’s attorneys he would have to meet with SEC Tuesday and testify about his relationship with Iconix.
At a hearing Thursday afternoon, Judge Gardephe ruled that Carter — who is known professionally as Jay Z — can no longer avoid questioning by the Securities and Exchange Commission. Carter’s attorney and lawyers for the SEC agreed to a date of May 15 for the SEC’s deposition of Carter. Exactly how long for the deposition, as well as its location, was left to be determined between the parties. (WWD)
U.S. District Judge Paul Gardephe noted how the SEC had tried multiple times to get a hold of JAY for a deposition.
He said Jay-Z’s testimony had been delayed five months as the singer fought the SEC’s request, beginning in January when his lawyer responded to a November subpoena for Jay-Z to be questioned in January by saying he could be interviewed by telephone. After a second subpoena in February called for a March deposition, Jay-Z’s lawyer offered to have his client submit to questions for two hours, the judge said. The lawyer later offered to expand the questioning to four hours, but criticized the SEC’s plans to question Jay-Z. (ABC 7 NY)
