Jay-Z Buys Back Intellectual Property For Rocawear For $15 Million

Jay-Z sold Rocawear for 207 million, and he just settled a lawsuit to get the rights to the brand back in his control.

(AllHipHop News) Rapper Jay-Z has settled a nasty lawsuit with the company that bought his Rocawear brand.

Iconix plunked down $204 million for the brand in 2007, but in 2013 executives wrote off the entire investment.

Jay-Z sued, claiming he was due money and had been victimized by a fraud scheme hatched by the executives at the company.

Jay-Z's lawyers also sued during the arbitration process, claiming there were not enough African-Americans involved in the process.

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.

Comments (4)
CHARTER
CHARTER

Iconix runs brands into the dirt. All the brands they own go straight to Burlington Coat Factory.

Noname
Noname

Jay is a smart mug fucca cuh

$MKingpin
$MKingpin

BO$$ Shit!!!! Now if he decides to he can restart Rocawear IF he wants to!