Judge orders Jay-Z to explain why he’s dodging a subpoena
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NEW YORK — A New York judge says Jay-Z must explain why he’s dodging a subpoena rather than answering questions related to a probe of a consumer brand company.
Federal Judge Paul Gardephe (GAHR’-duh-fee) on Thursday ordered the rapper to say next week why he ignored a February subpoena from the Securities and Exchange Commission.
A representative for Jay-Z says he’s a private citizen and shouldn’t be involved in the Iconix Brand Group investigation. Jay-Z sold his Rocawear apparel brand to Iconix for $204 million more than a decade ago.
The SEC says Jay-Z and Iconix continued some business partnerships after the sale. It says in court papers it’s investigating Iconix to learn if federal securities laws were violated when the company reported financial results.
