Iconix paid Carter more than $200 million to acquire "intangible assets" associated with his Rocawear apparel brand.
The SEC is now investigating potential violations of the federal securities laws related to financial reporting of Iconix Brand Group, Inc., which licenses brands to apparel, footwear and apparel accessory retailers and manufacturers, according to documents filed in federal court.
American rapper Jay-Z, pictured here performing Bercy arena in Paris, Oct 17, 2013, is now in trouble.
The Securities and Exchange Commission subpoenaed Jay-Z on Thursday.
Jay-Z has also been ordered to appear in federal court next week to explain why he shouldn't be ordered to testify in the SEC investigation. The agency would like to talk to him about, "among other things, Carter's joint ventures with Iconix".
The agency wants Jay-Z's testimony in looking at the brand management company's write down of the value of Rocawear by $169 million in March 2016 and an additional $34 million this year.
"Mr. Carter is a private citizen who should not be involved in this matter", they add. Carter was initially subpoenaed in November 16, 2017. According to the SEC, his lawyers did not provide any dates when he would be available to testify. The interview "may prove that Mr. Carter does not have relevant information, but that is not a basis for not complying", he said.
Now, the SEC if fighting back. Rocawear was one of his early business successes.
Carter sold Rocawear to Iconix for $204 million in 2007, but maintained significant creative control of the brand.
A representative from Iconix did not immediately respond to CNBC's request for comment.
The company, which began 40 years ago as the shoe company Candie's, has grown to include more than two dozen American brands, including Danskin, Umbro and London Fog that the company licenses to mainstream retailers. In Thursday trading, Iconix shares were plunging - which is usually the impact of an SEC investigation into potential shadiness.
The U.S. and China could "spend the next year developing how we deal with each other over a period of time", Lighthizer said . Washington's moves, perceived by Beijing as a way to contain China's strategic ambitions in hi-tech, have not gone unnoticed.
Bayern have been hit by injuries to key players with Arturo Vidal , Arjen Robben and Jerome Boetang all missing for the game. Bayern, a five-time European champion, is looking to return to the final after four seasons. "Lewy has my complete support".
Juanfran was substituted in the 65th minute of Atletico's 0-0 home draw with Real Betis in La Liga on Sunday. Costa scored four goals in six previous appearances against Arsenal in three years at Chelsea .
The 15 National Hockey League teams that did not qualify for the playoffs participated in the lottery, which was held in Toronto . Buffalo, Montreal and Carolina are in the top three spots of the 2018 NHL Draft at Saturday night's NHL Draft Lottery.
The VA issued a statement late Wednesday that it would push to have Congress move on an expansion of Choice next month. Tester spokeswoman Marnee Banks said the office would not comment until it knew more about the White House records.
When asked if there was any possibility of De Gea not being at United next season, Mourinho said: " No chance ". Manchester United boss Jose Mourinho has shut down talk of losing David de Gea to Real Madrid this summer.
It was another fast start for the Capitals as they were able to jump all over a sloppy Penguins team in the first period. Washington had another 2-0 lead in Game 2, which is where Pittsburgh had rallied for a 3-2 win the previous contest .
If he keeps that level of performance up the question is how long do the WWE wait to put him back in the main event scene. They apologized on a Twitter post for 'the scenes of indecent women that featured in an ad before one of the matches'.
The Asia Pacific region will probably lose money in the second quarter before returning to profit in the back half of the year. This range falls into several segments: from compact to medium Focus , Fiesta , C-Max and Fusion to full-size Taurus.
Others, including members of Trump's legal team, said the Nixon case refers to document production, not physical testimony. Some touch on Russian meddling in the USA election and whether the Trump campaign coordinated in any way with the Kremlin.
Over footage of Dede chatting with Tester, he says, " Jon Tester's work in Washington helped me get my life back". Ronny Jackson has withdrawn are: Ascension President and CEO Anthony Tersigni, Cleveland Clinic CEO Dr.
The lucky victor will be announced on May 18th and your travel mission will begin on June 1st and end on August 15th. The airline says that it is looking for full of life, fun loving pair of individuals who could think big.
Communities in northeastern Arizona evacuated for Tinder Fire
The Superstition Fire and Medical District also tweeted that it was sending a four-person crew to the fire for assistance. By Monday morning, the so-called Tinder Fire had burned more than 13 square miles in Arizona's Coconino National Forest.
Nikola Motor Company Sues Tesla Just Ahead Of Earnings Report
Nikola's attorneys did not immediately respond to a request for comment; and a spokesperson for the company declined to comment. For example, Tesla has had problems with its batteries starting fires and its autonomous features causing fatal accidents .
Amazon offers to buy 60% of Flipkart for $2 billion
Amazon is also reportedly seeking a non-compete agreement with Flipkart's founders of somewhere between one and two years. The offer could complicate matters for Walmart , which has also been trying to buy a majority stake in the company.
Under Armour's (UA) "Outperform" Rating Set at FBR & Co
Following the completion of the sale, the executive now owns 25,840 shares of the company's stock, valued at $1,119,905.60. UAA's SI was 67.66M shares in April as released by FINRA. (NYSE: UAA ) on Tuesday, November 7 to "Neutral" rating.
Rahul vs Modi: 15-minute debate challenge
Last month, the Congress President had asked the Prime Minister for one-on-one debate for 15 minutes in the parliament. He also said by raking up Dalit issue from time to time the Congress has only tried to divide the nation.
The Oculus Go Standalone VR Headset Goes On Sale for $199
However, as of Tuesday morning, the $ 199 Oculus Go appeared to have already sold out as the Amazon listed it as now unavailable. There is also a companion app in the Play Store or app store (for iOS users) for downloading games and apps for the headset.
Cavaliers edge Pacers to Game 7 win
For comparison's sake, when Kyrie Irving and Kevin Love were out in the 2015 Finals, James' usage rate was 39.3 percent. Back in the locker room, Cavaliers doctors wanted to administer an IV, James said, and he refused the treatment.
Steph Curry to return for Game 2 against Pelicans
Curry practiced on Monday and barring a setback he should be ready to go vs. the Pelicans in Game 2. Curry participated in a lengthy scrimmage on Sunday and had no issues during Monday's practice.
House Chaplain Says Ryan Forced Him Out
There are also reports that some lawmakers were dissatisfied with his service, but no one has stepped forward to criticize Conroy. Strong tried to deflect charges that religious and political disagreements were behind Ryan's request for Conroy's resignation.
Chicago Bears: Reaction to the Roquan Smith pick
Smith can occasionally get engulfed by linemen, and he may need to improve his hand use to become more effective taking on blocks. This is a stark differnce from the 2017 NFL Draft, when Isaiah McKenzie was the only Georgia taken at all during the NFL draft.