Judge orders Jay-Z to face SEC questions in financial probe
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NEW YORK — A New York judge says Jay-Z must answer questions from the Securities and Exchange Commission in a financial probe by the regulator.
Lawyers for the SEC and Jay-Z settled on May 15 for a deposition Tuesday after U.S. District Judge Paul Gardephe (GAHR’-duh-fee) said Jay-Z can’t dodge the questions any longer.
Jay-Z has argued that his testimony is not that important to the SEC’s probe of the Iconix Brand Group. Jay-Z, who was not in court, sold his apparel brand to Iconix in 2007. He also says he’s too busy getting ready for a worldwide tour starting next month.
Gardephe said the SEC has shown that Jay-Z’s testimony about the sale of his company and his participation in meetings, phone calls and emails are relevant to the probe into Iconix.
