Jay-Z sues Iconix Brand Group over “massive” fraud

Lawsuit accuses New York licensing firm of lying about its financials to secure deals before bolting with the cash in alleged “massive years-long fraud”

Written by Rhys Thomas

Posted 08.07.2019 | Apparel

Jay-Z sues Iconix Brand Group over “massive” fraud thumbnail

Jay-Z’s company Roc Nation is suing Iconix Brand Group for embroiling the rap mogul’s apparel brand in an alleged “massive years-long fraud”.

The lawsuit, filed in the Manhattan Surpreme Court, accuses the New York licensing firm of duping Roc Nation and other brands into signing deals under “false pretenses” by lying about its financial health back in 2013.

Iconix is then said to have “absconded with its licensees’ money without providing the branding and retail support it promised”, according to court documents seen by The New York Post.

Roc Nation claims the firm’s duplicity “set off a colossal accounting scandal, the depths of which are still being uncovered”. It adds that during the time Iconix engaged in the allegedly fraudulent activity, the licensing firm’s share price plummeted from a high of around $400 to “less than a dollar today”.

The Securities and Exchange Commission questioned Jay-Z over the fraud allegations in a private deposition in 2018. The rapper says its dealings with the SEC caused Roc Nation to incur “substantial legal expenses”, which the suit will seek to reclaim from Iconix alongside unspecified damages.

Other brands said to have been duped include urban fashion labels Ecko and Ed Hardy.

Roc Nation sold men’s fashion brand Roc Nation to Iconix in 2007 for $204 million.


Mr. Men take the stage in UK tour thumbnail

Mr. Men take the stage in UK tour

Brand-new live show Mr. Men and Little Miss On Stage will tour UK venues between August and November

Horrid Henry hits the big screen at Vue thumbnail

Horrid Henry hits the big screen at Vue

New special compilation of Novel Entertainment’s animation featuring favourite episodes and new music videos to debut across the UK in ...

Haim Saban launches music label with $500m investment thumbnail

Haim Saban launches music label with $500m investment

Former Power Rangers owner invests $500 million to launch Saban Music Group, a new label with plans to scout, manage ...

Press Releases

Moorcroft is Chelsea’s Choice thumbnail

Moorcroft is Chelsea’s Choice

Moorcroft and RHS present the limited-edition vase Chelsea’s Choice, celebrating Chelsea Flower Show 18 Plant of the Year

Henson back catalogue hits Amazon thumbnail

Henson back catalogue hits Amazon

More than 100 days’ of The Jim Henson Company’s content including Fraggle Rock now streaming on Amazon Prime Video

Pingu cooks up creative competition thumbnail

Pingu cooks up creative competition

Readers of lifestyle mag Lettuce Club are tasked with inventing tasty Pingu-themed recipes

Diesel Brothers game rolls out thumbnail

Diesel Brothers game rolls out

The Diesel Brothers: Truck Building Simulator video game is based on the hit Discovery Channel TV series