Written by: Livengoodlivin
Jay-Z’s corporations have officially sued a New York City licensing firm. Making claims that the licensing firm cheated Roc Nation apparel company as part of a “colossal accounting scandal,” according to legal documents filed this week in the state court in Manhattan. The accusations are against Iconix Brand Group for fabricating its finances when it made deals with Roc Nation. There hasn’t been any immediate response to a phone message from Iconix about the situation.
When Roc Nation entered into a brand partnership with Iconix in 2013, the defendant company allegedly falsified financial reports to inflate its earnings. According to the suit, “have incurred substantial legal expenses in connection with, among other things, the federal government’s investigations into Iconix’s massive fraud…” which have led Jay Z to make a lawsuit. Him and his team are seeking payment of legal fees and unspecified damages.
Keep locked as we will keep you updated as more details surface as the story develops.