Jay-Z Buys Back Intellectual Property For Rocawear For $15 Million
(AllHipHop News) Rapper Jay-Z has settled a nasty lawsuit with the company that bought his Rocawear brand.
Jay-Z sued, claiming he was due money and had been victimized by a fraud scheme hatched by the executives at the company.
During the legal battle, the rap star/mogul was supposed to give a videotaped deposition, but he fought the order because he didn't want his testimony to leak.
Jay-Z's lawyers protested, claiming his privacy was being invaded and that he was being subjected to a "Spanish Inquisition."
According to reports, Jay-Z, real name Shawn Carter, bought back $15 million worth of intellectual property from Iconix as part of the settlement.
Representatives for Jay-Z have yet to comment.