rocawear

Roca Bye, Jay-Z: Jay-Z’s Rocawear Company Sued For $450,000


(AllHipHop News) Six years after Jay-Z sold his and Dame Dash’s Rocawear clothing line to Iconix Brand Group and the once prominent clothing brand is now facing legal troubles. According to The New York Post,  Rocawear is being sued by wholesale company iSource NYC for $450,000 of unpaid fees for shipping Rocawear clothing from Pakistan to New York City from April to June of 2012.

The deal to ship clothing from Pakistan to NYC between the two companies was agreed at a price of $1 million which Rocawear has since paid only half of. The wholesale company asserts that the clothing “were specially ordered goods . . . [with] the ‘Rocawear’ brand name imprinted on [them].”

While Jay-Z did sell Rocawear he maintained control of product development, licensing and marketing.

[ALSO CHECK OUT: Jay-Z, Nas, Justin Timberlake, & Timbaland Together In The Studio]

  • naledge77

    $450,000, blah that’s chump change to this dude. I’m sure he feels the same way I do….so what and who gives two sh#ts!

    • TRELL850

      Yea this isnt news… That’s underwear money to Jay…

      • naledge77

        Basically.

  • Reblogged this on City Press.

  • johnblacksad

    Even Baby Blu Ivy could take care of that bill…

    • naledge77

      I’m sure her nanny gets paid more than this!

  • Pingback: SoundwavezRadeo » Roca Bye, Jay-Z: Jay-Z’s Rocawear Company Sued For $450,000()

  • Pingback: Roca Bye, Jay-Z: Jay-Z’s Rocawear Company Sued For $450,000 | Hip Hop WorldWide()

  • Pingback: Roca Bye, Jay-Z: Jay-Z’s Rocawear Company Sued For $450,000 - I Am Mo Better()

  • Pingback: Last Lap: Why Is Rocawear Being Sued? - Top News Today()

  • Pingback: Last Lap: Why Is Rocawear Being Sued? | TNT()

  • Stay Phokus

    Jay-Z: What they gonna do fire me from Rocawear? hahaha.. HOV!

  • Pingback: Last Lap: Why Is Rocawear Being Sued? | Headlines()

  • Negro Peligro

    Man Rocca wear fell off.

  • how do you sell the company and maintain control of product development, licensing and marketing. lol.. sounds like what hes doing with the nets, looking to sell but keep his seats that came wit it n what not

    • It’s just an endorsement deal he has with them.

      Otherwise nobody would buy the story in which

      the whole brand is based upon Jay’s Roc Image.

  • jay doesn’t own the brand. Iconix do. They must deal with it. Jay is just
    a paid entertainer with a small percentage to give the brand exposure.
    Nothing is owned by black celebrities. They just get entertained by
    advanced endorsement deals. We black people don’t own anything
    in Hip-Hop.

    • digitallife

      He’s still partial owner on stock documents..so yes he is still liable because he technically still own the trademark and that’s what’s written on the clothing. You can sell a brand and retain it’s trademark.

      • Since when are minority stake holders liable for business operations?
        Did shareholders pay when Goldman went into problems?
        Their stock price just went down. If they were liable then there
        wouldn’t have been any need for a bailout from the taxpayer’s side.
        The only money a company holds is the money in it’s company accounts and assets. Please read up on limited liability. Jay does
        not own any trademark. The trademark is owned by the company
        as it’s own entity. The majority holder of shares has decision rights,
        which are addressed to the CEO who is the elected manager of
        the company. A CEO is mostly a person hired to manage in the
        shareholder’s interest but is unlikely the owner of the business at
        the same time.

      • digitallife

        Woah slow down cuz. First of all, when a company is sued individuals, third party corporation/entities who are involved are always named as a defendant in litigation because it inconveniences more people thus usually having a high turn over ratio for settlement. Selling a product line on a larger trademark brand which is what rocafella is still means you own the parent trademark..otherwise after selling both rocawear and Roc-a-fella jay would’ve never again been allowed to associate with the brand itself. Using Goldman as a way of explaining a two bit clothing line is absolutely ridiculous. That’s like comparing Harvard to a technical training school. The intangibles and applicable regulations are complete opposites. You do not need to explain business law or business practices to me. I am very familiar with them as I actually studied them and own a business. You may want to actually pick up a prospectus from ICONIX’s stockholder meeting around the time just after they purchased Rocawear..might just enlighten you a bit. This is just like when folks think Jay actually owns 40/40..then things get to court and you find out otherwise.

      • Liability will only be checked after all company assets cannot cover the outstanding amounts. In a corporation with shared

        liability each partner could be held accountable. But this is

        why people start even LLCs. The tax burden is higher. But

        in the case of bankruptcy only company assets will be
        liquidated. Only in cases of fraud, they can touch any of the

        shareholders. This is why many rich people liquidate some of

        their businesses in order to reduce claims from creditors and suppliers.

  • Pingback: Last Lap: Why Is Rocawear Being Sued? | CNT()

  • Pingback: W63 TOP NEWS » Last Lap: Why Is Rocawear Being Sued?()

  • Pingback: He Got Game: Jay-Z Officially Becomes A Licensed NBA Agent | AllHipHop.com()

  • Pingback: He Got Game: Jay-Z Officially Becomes A Licensed NBA Agent | Fashion | Music | Celeb News | Sports()

  • P1anoMan

    he just works for rocawear now, its not his problem lol