Jay-Z ordered to appear in court after ignoring SEC subpoenas
Jay-Z ordered to appear in court after ignoring SEC subpoenas
Jay-Z Receives Investigative Subpoena from the SEC
04 May, 2018, 14:23
The Securities Exchange Commission (SEC) filed an action in Manhattan federal court against hip hop mogul Jay-Z (real name Shawn Carter). When Carter struck the deal with Iconix, Rocawear was bringing in more than $700 million in revenue a year.
However, the new owners are now under investigation on suspicion of violating federal securities laws in their financial reporting of Rocawear accounts. But the SEC says Iconix's financial reporting around its Rocawear acquisition - and potentially other dealings - are suspicious.
"Mr. Carter is a private citizen who should not be involved in this matter", they add. The agency initially issued a subpoena for Carter's testimony in November and then again in February. This most recent filing claims that he still hasn't provided the commission with availability dates for a court appearance, with the representative's statement above clearly explaining why he hasn't. After Jay-Z obtained new counsel, the agency issued a second subpoena, according to an SEC statement.
Carter will have to appear at a hearing on May 8 to argue why the court should not order his testimony.
Iconix in March 2016 said it would write down $169 million in connection with Rocawear.
It also said it wants to learn about his other companies that did business with Iconix and his awareness of the knowledge and intent of other people who knew of transactions involving Jay-Z, his affiliated companies and Iconix. And just a year ago, the company triggered another Rocawear write-off to the tune of $34 million.
Iconix has yet to comment or respond to Investopedia's inquiry surrounding the subpoena. The SEC is now filing a subpoena enforcement action against Jay-Z for testimony to inquire about his joint venture with Iconix.
A NY 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.
He and Tony Gonzalez are the only National Football League tight ends with at least 1,000 catches and 10,000 yards. He ranks fourth in receptions all time behind only Jerry Rice, Tony Gonzalez and Larry Fitzgerald .
The feature is launching in closed beta, and Facebook announced a handful of major brands using it: ASUS, Kia, Nike and Sephora. Facebook plans to roll out the feature to other countries, with additional languages, sometime in the future.
Before it started, my prediction was Boston would win in six games. "If they stay in, obviously, they need to be better". Those two traits certainly don't help a team in the middle of a playoff game, and neither does flat-out quitting.
It wasn't until his phone was blown up with text messages while he was in physics class studying for exams that he found out. He was in contention early in the Masters and made the cut in a major for the first time since the Masters in 2015.
Cambridge Analytica sought information on Facebook to build psychological profiles on a large portion of the USA electorate. Wednesday's news release announcing the decision lists only Cambridge Analytica and SCL Elections, not the parent company.
As a part of the deal, Flipkart has bought back over 1.8 million shares worth more than $350 million from minority investors. Amazon , on its own, has committed investments to the tune of Dollars 5 billion for its operations in India.
Celebrities and everyday people took to social media to address these comments through memes, justification, for frustration. The former "Watch the Throne" tourmates haven't seen one another since their falling out but Kanye said they are "good now".
The two meetings in San Jose were split this season and the Sharks won the more recent contest 2-1 in overtime on March 22. Vegas entered the third period with a 3-1 lead but the Sharks rallied to tie the game 3-3 and force sudden death overtime.
North Korea looks set to release American detainees
Relations between China and North Korea have undergone a vast outward improvement following Kim's recent visit to Beijing . They were employees at the Pyongyang University of Science and Technology , a private university in the North's capital.
Xiaomi leans on India sales after filing for mega IPO
Still, the company warns that its retail store operation requires a substantial investment, which may explain its losses. Lei Jun, Co-founder and CEO, said CDRs was " an excellent idea " and a " great policy innovation ".
NHS scandal and heatwave on the way — Newspaper headlines
The Times says the women face an "agonising wait" of up to six months to be checked for breast cancer because of the glitch. An upgrade to the invitation IT system provided improved data to local services which led to the problem being identified.
People Died in a US Military Plane Crash
His company handles hazardous materials, he said, expressing gratitude that the aircraft didn't crash in his immediate vicinity. Black smoke rose into the sky from a section of the plane that appeared to have crashed into a median on the road.
Storm Kills at Least 72 in India
More than a hundred people were killed in northern Indian after fierce dust storms lashed several densely populated areas. The falling trees and electric poles caused the maximum accidents, leaving nearly 100 people injured, Yadav said.
Facebook Launching New Dating Features
At least for now, the impression is that the Facebook Dating feature will be open to all the Facebook users who opt for it. It will show every piece of data from every website that has collected data on you and then sent it to Facebook .
Gerrard reveals talks with Rangers have been "positive"
The job would represent a huge task for the inexperienced 37-year-old considering that he has never managed at senior level. Asked about reports linking him with the post, Gerrard told BT Sport: "Yes, there is truth in the rumours".
Scotland ends cheap booze by setting minimum pricing
By targeting cheap alcohol, she said minimum pricing would discourage youngsters from drinking by making it less affordable. He said: "Minimum Unit Pricing has been a very complex and costly measure to introduce".
'Ant-Man and The Wasp' trailer teases new villain
The last time we saw Ant-Man was in " Captain America: Civil War ", and the new film's story will pick-up after those events. But with both of them due to appear in Marvel's 2019 sequel, their upcoming solo adventure should explain their whereabouts.